German Domestic Demand Reliance Shows Uneven EU Recovery

Germany’s economic growth in the first quarter was driven exclusively by internal demand, highlighting the uneven nature of the euro area’s recovery.

Domestic consumption climbed 1.9 percent from the fourth quarter and construction surged 3.6 percent, boosted by a mild winter, the Federal Statistics Office in Wiesbaden said today. Gross domestic product increased 0.8 percent, the office said, confirming a May 15 estimate. From a year earlier, the economy grew 2.3 percent when adjusted for working days.