The German economy grew by 0.6% in 2019, the slowest rate in six years, the country’s Federal Statistical Office reported on Wednesday (15 January).
These numbers are partly fuelled by a decline of German exports which have fallen victim to the US/China trade war, causing the automotive industry to suffer most in part due to decreasing demand and a move towards electric vehicles.
The numbers are not all bad news, however. Record employment and an increase in purchasing power and rising consumption have bolstered the economy and extremely low-interest-rates have fuelled a construction boom. These factors have helped prevent the economic crash that some economists feared. (Sarah Lawton | EURACTIV.de)