Germany overtakes UK as fastest-growing G7 economy
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. ■