German economy sees 'record' growth of 2.2%

[dipsydoodle]

Source: BBC News

The German economy grew by 2.2% in the three months to the end of June, its fastest quarterly growth in more than 20 years, official figures show.

"Such quarter-on-quarter growth has never been recorded before in reunified Germany," the national statistics office, Destatis, said.

The main reason for the higher-than-expected growth was strong exports, helped by a weaker euro.

The eurozone economy grew by 1% during the quarter.

Read more: http://www.bbc.co.uk/news/business-10962017

[onehandle]

1. Germany still makes stuff. Good stuff.

We ask if you want fries with that.

[bossy22]

4. actually our manufacturing sector

is as large as the ENTIRE GERMAN ECONOMY....which i might add that only 27% of the german economy is manufacturing...so in essence we manufacture 4X the dollar amount that germany does

[OhioChick]

11. +1 n/t

[mistertrickster]

2. What?! You mean Euro-socialism works?

This is a great example of big government working with business and labor to create a good economy for all.

Even Wal-Mart has to be unionized in Germany, and somehow Wal-Mart still turns a profit.

Gee, maybe tax incentives to outsource jobs isn't the answer, ya think?

*****

On edit-- I wonder what the employment figures are in Germany, compared to here.

[hughee99]

5. Lower than 8 now, though they spent much of the decade around 10%

http://www.bls.gov/fls/intl_unemployment_rates_monthly.htm
http://www.indexmundi.com/g/g.aspx?c=gm&v=74

[eridani]

14. They don't lie about their unemployment

Also, they don't bave a prison industrial complex.

[bossy22]

6. correlation does not equal causation

many times after big down turns economies have quarters os "super growth" that is way above average. Remember the U.S. grew at an annulized rate of 12% for 2 quarters after the major downturn in the 80's....So there is no way to link this as a result of euro-socialism. In fact the eurozone has historically grew at about a 2% annulized rate while the U.S. was about 3% (though the U.S. also had more robust population growth so that could do it)

Also to answer your question, the unemployment is 7.6% but that at the hight of the recession their unemployment was 7.8%.....remember they werent hit as hard as we were

[mistertrickster]

12. Good analysis. My point is not that everything about their system is wonderful,

but simply that it's clearly not the economic hell that CONs would have us believe.

[bossy22]

13. no...far from it

germany since the end of the cold war has experienced strong growth...the difference is in the sectors they invest in- germany invests in their manufacturing sector very heavily. That is why they are now the top manufacturer in europe.

[bossy22]

7. correlation does not equal causation

many times after big down turns economies have quarters os "super growth" that is way above average. Remember the U.S. grew at an annulized rate of 12% for 2 quarters after the major downturn in the 80's....So there is no way to link this as a result of euro-socialism. In fact the eurozone has historically grew at about a 2% annulized rate while the U.S. was about 3% (though the U.S. also had more robust population growth so that could do it)

Also to answer your question, the unemployment is 7.6% but that at the hight of the recession their unemployment was 7.8%.....remember they werent hit as hard as we were

[Loudmxr]

3. California uber alles! Uber alles California!!

OK.. I express joy dem Deutsche Volk. But, y'know, with a few gay marriages we will give them competition in economic growth you just wait and see!

[MilesColtrane]

8. Hmmm, do you think part of that may have to do with Germany's token...

contributions to the wars in Iraq and Afghanistan?


The Germans didn't give their military and military contractors a key to the country's treasury.

[keith the dem]

10. Yep, they didn't have good luck with that in the past.

[Thav]

9. It's still amazing

That a country that has lost 2 world wars, and had almost their entire manufacturing infrastructure destroyed has been able to build back up to being a major exporter and world wide creditor.

but the're socialist and have health care, long vacations, and unions. So they suck and we rock.