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Germany becomes growth engine in Europe

The Europe’s largest economy is booming under the clouds of Greek debt crisis. The business confidence in Germany is high.  The latest reports show that in April it was highest since last 10 month. The Germany is expected to become driver of growth in the European economy and will announce a favorable exchange rate. The business climate index by IFO institutes increased to 108.6. It was 107.9 in the month of March. The index has been growing since last six months. The Bloomberg estimated the increase in the index till 108.4 after the survey of around 36 economists. Senior Economist Aline Schuiling from ABN Amro Bank NV based in Amsterdam said that the energy prices are all time low along with euro’s value. This will definitely contribute to growth of the German economy. On being asked about the Greek crisis, the expert added that for now biggest concern for the European stability is Greece. If the country doesn’t evolve as expect, this economic stability will be lost. 

The German economy is contributes to 29 percent of the Europe’s total GDP. This makes it important for the 19 nations Eurozone’s economic region. Experts are hoping for strong growth across all quarters of this financial year. The Germany’s performance is vulnerable due to low investor sentiment along with slowdown in the manufacturing. German government needs to be working hard to sustain the growth. The government spokesperson informed the press that they plan to invest more in research and infrastructure in the country. 

 

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