Previous fears about global uncertainty predicted that the largest economy in the European Union could be on the decrease. These fears were comforted by a drastic increase in Germany’s industrial production. The German economy experienced a 7.4% increase in last January.
According to data, January 2017 brought a 6.1% advance in investment and consumption goods also increased by 2.3%.
The Federal Economy Minister stated that, “Industrial production made a good start into the new year.” This increase in industrial productions has been the highest since 2009. Furthermore, Berlin also confidently predicted that in the following year, business should increase. According to analyst, Ralph Solveen of Commerzbank, “The trend in industrial production should still point upward in the coming months.”
The previous slump in the EU’s largest economy proved two things. Firstly, it showed that Germany isn’t immune to risks. However, it also proved that with effort, Germany can hold on to its strong and healthy economy for the years to come.