Germany's economy grew at fastest rate in three years for 2014

 
Jessica Morris
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Germany's economy grew at the fastest rate in three years (Source: Getty)

The German economy grew 1.5 per cent last year, in line with expectations. The figure was driven primarily by domestic demand, German officials said.

It is the strongest growth since 2011, when the Eurozone's biggest economy expanded 3.6 per cent, according to figures released by Federal Statistical Office today.

"Obviously, the German economy turned out to be strong in a difficult global economic environment, benefiting especially from a strong domestic demand," Roderich Egeler, president of the Federal Statistical Office said.

But it hasn't been plain sailing for the German economy, which just missed slipping into recession last year. It scraped by with 0.1 per cent growth for the third quarter, after contracting 0.1 per cent in the previous three months.

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