The German Economy is still doing very well in the midst of the European Financial crisis. With unemployment down to 6.9%, consumer confidence is on the rise. Germany is the second largest economy is Europe, so this is good news for the entire European Union, which is still struggling to get back on its feet. Consumer confidence is going to be essentially to re-stimulate spending across the entire European Union.
http://www.washingtonpost.com/business/german-consumer-confidence-rises-unemployment-remains-low-despite-european-financial-crisis/2013/04/30/ccfb6f00-b173-11e2-9fb1-62de9581c946_story.html
The fact that Germany is doing well and lowering the unemployment rate during this crisis is definitely a good sign. German consumer confidence will hopefully spark and stimulate the rest of the EU and eventually end the crisis.
ReplyDeleteGermany has had a good history of remaining economically strong in times of crisis. They are a well oiled economic machine. It is also partially why the EU central bank is located there.
ReplyDeleteAs Mike said, Germany has been able to avoid self-destruction during troubling times in recent history. Compared to their partners in the EU one could say that they're absolutely incredible in how they stay on top of their economy. Analyzing their consumer habits may be different than how we analyze consumers here if the difference between how work is approached by employees is anything to go by. Workers in Germany are typically willing to work fewer hours which allows more employees to get hired.
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