4 of 6
BACKNEXT
Germany: Earlier than forecasted
Germany: Earlier than forecasted
GDP: 1.3%*
Inflation: 0%
Unemployment: 8.3%
Markets: 25.2%
Interest rate: 1%

Germany thought it would exit its recession this year, but economists didn't expect to see GDP growth quite so soon.

Europe's biggest economy rebounded from four-straight quarters of decline to grow at an annualized pace of 1.3% last quarter.

A $120 billion stimulus package, $25.9 billion business lending program and extensions of government-subsidized labor contracts, helped Germany out of its recession.

German factory orders are on the rise and retail sales are climbing as well. Business confidence in Germany rose to a one-year high, and consumer confidence is at a 15-month high.

But the country's unemployment rate is still rising, and economists expect it to soar once the government's job subsidies come to an end.

Germany also has to deal with a huge $25 billion budget deficit during the first half of 2009, which compares with a more than $10 billion surplus during the same period last year.

NEXT: France: Better than expected
Last updated September 24 2009: 11:03 AM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
Source: IMF, national statistics offices, central banks, DAX
*Figure does not match chart because it is given in an annualized rate
More Galleries
Cars that sold for millions at the Scottsdale auctions These were the highest prices paid for collectible cars -- and a bus -- at the Scottsdale auto auctions. More
The best of SkyMall This catalog is always packed with ridiculous items that we just can't live without. More
Blue collar entrepreneurs These five entrepreneurs took their blue collar experience and used it to launch innovative businesses. More

Special Offer

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2015 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2015. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2015 and/or its affiliates.