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German economy starts 2015 on front foot - ministry

Published 23/03/2015, 23:13
© Reuters. A German national flag is seen at balcony of house in Dortmund

BERLIN (Reuters) - The German economy got off to a good start to 2015 in the first quarter and there is evidence to suggest growth will continue, the finance ministry said on Tuesday.

"The 'hard' industrial indicators as well as optimism among business and consumers signal the economy should have continued to expand in the first quarter," the ministry said in a monthly report.

The number of unemployed fell in the first months of the year, while cheap oil has boosted domestic demand, said the report.

Recent data has largely painted a positive picture of Europe's economic powerhouse with the private sector gaining momentum, unemployment falling retail sales surging and industrial output increasing.

Industrial orders have plunged and exports fell sharply in January, however, though the weak euro is expected to boost sales of German goods abroad in coming months.

© Reuters. A German national flag is seen at balcony of house in Dortmund

After narrowly skirting a recession in mid-2014, the German economy put in a strong showing in the final quarter of last year and the government expects it to expand by 1.5 percent in 2015.

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