Photo: DPAThe German economy expanded sharply in the first three months of 2017, official data showed Friday, putting Europe's powerhouse on track to beat a late-1970s record for its longest-ever recovery. "The German economy is in the run-up to the longest (but not strongest) recovery phase" since the 1970s, said UniCredit analyst Andreas Rees. At the moment, growth in Germany has been picking up again after a slump last summer following Britain's shock vote to quit the European Union. The economy expanded by just 0.2 percent in July to September, well short of the pace achieved in the first half of the year. Looking ahead, Germany could surprise observers with even faster growth over the rest of the year, said analyst Florian Hense of Berenberg bank.

Source: The Local May 12, 2017 08:48 UTC