Germany is known for its remarkable economic activity. This country is home to one of the strongest economies in the world. Last year, the economy experienced the highest growth of 1.9%. In 2017, the economy is set to sustain a 1.5% growth throughout the year. Foreign trade and public consumption are the highest contributors towards the economy’s growth. It was feared that the previous and current global uncertainties from the US and UK would hinder Germany’s economic growth, however, the economy seems to be unfazed.
According to Dieter Kempf, the BDI President, “Our success is also a result of a weak euro, the moderate price of oil, and the expansive monetary policy of the European Central Bank. Those are all factors over which we have very limited control.”
The country is also experiencing low unemployment rates and an increase in job vacancies. Recently, the jobless rate reached a new record low since 1991. For more information about the unemployment rate in Germany, kindly visit: https://welcome-center-germany.com/germanys-unemployment-reaches-new-record-low-since-1991/