World Economy

Germans Spending More

Germans Spending MoreGermans Spending More

Record high employment, historically low interest rates and low inflation boosted Germany’s economic growth in 2015, the Federal Statistics Office has reported, DW said. Those factors had one common effect: People were spending more. The German economy expanded by 1.7% in 2015, a rate of growth not experienced since 2011, it said on Thursday. Consumer spending was the big driver behind the boost, rising by 1.9% on the year, statisticians and analysts said. Not only were more people able to find or keep jobs, prices did not go up as quickly as they normally do. This combination emboldened consumers to open their wallets and thus, stimulate business.