According to official data released Tuesday, German economy grew even faster than previously thought in 2014, boosted by a surge in consumer spending and investment, says Deutsche Welle.
Employment in Germany is at a post-reunification high, with more than 43 million people working.
Over 2013, full-year gross domestic product was up 1.6 percent, confirming preliminary figures released in mid-February. Earlier, analysts had said Germany's GDP growth in 2014 was 1.5 percent higher than one year prior.
A strong growth in consumer spending and business investments in the fourth quarter were the main incentive behind 2014's strong performance. Home spending was up 0.8 percent on-the-quarter from October to December. Companies also spent 0.4 percent more.
A weak domestic currency has underpinned Germany's already strong export industry.
Thus, in the fourth quarter of 2014 exports grew at a rate of 1.3 percent - 0.3 percentage points faster than imports.
Europe's largest economy, also registered a budget surplus of 0.6
percent of output in 2014, according to official data.
According to the bloc's seminal pact, the Maastricht treaty, countries within the European Union are not permitted to have budget deficits exceeding 3 percent of GDP.
