25-Aug-2010 10:35 AM

Germany economic recovery at 'full force': Economic Minister

Germany's Economic Minister, Rainer Bruederle, stated "the recovery in Germany’s economy is underway with full force”, adding that economic growth is “in no way” driven by exports alone, with domestic demand contributing approximately 60% to the expansion (Bloomberg, 24-Aug-2010). Separately, German Federal Statistical Office (Destatis) confirmed (24-Aug-2010) second quarter GDP increased 2.2% and separately stated (24-Aug-2010) the general government deficit in 1H2010 stood at EUR42.8 billion, more than twice 1H2009 levels of EUR 18.7 billion. [more -GDP] [more - Deficit]