German GDP growth slowed from 2.2% in 2016 and 2017 to 1.5% in 2018 and reached a minimum in 5 years, the Federal Statistical Office of the Federal Republic of Germany reports. These official sources correspond to market expectations. The slowdown in economic growth is associated with a global trend towards reduced demand. Tighter regulation in the automotive industry has also affected the indicator. Consumer and government spending in Germany grew by 1% and 1.1%, respectively. Export growth slowed to 2.4% last year, although the German government ended the year with a budget surplus. The surplus amounted to 59.2 billion euros, having updated the historical maximum. The budget surplus will allow Germany to invest more than 151 billion euros in infrastructure development until 2022.
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