German GDP grew 1.9 percent in 2016, strongest rate in 5 years

German GDP grew 1.9 percent in 2016, strongest rate in 5 years
12-Jan-2017 02:42 YAHOO

Europe's largest economy is benefiting from rising private consumption and increased state spending on refugees, compensating for a weaker contribution from trade amid sluggish demand from major trading partners and emerging markets. Economists polled by Reuters had expected growth in gross domestic product (GDP) of 1.8 percent for 2016 after an expansion rate of 1.7 percent in the previous year.