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Germany overtakes UK as fastest-growing G7 economy

Staff Writer |
Germany overtook the UK as the fastest growing among the G7 states during 2016.

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Europe’s largest economy expanded at the fastest rate in five years, showing growth of 1.9% last year.

The expansion pushed Britain into second place among the G7 industrialised nations, after the Office for National Statistics revised down annual UK growth to 1.8%, from an initial estimate of 2%.

In the final quarter of 2016 Germany’s economy grew by 0.4%, improving on 0.1% growth in the third quarter.

It was fuelled by domestic demand as government and consumer spending rose.

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