German GDP rises 1.7% in 2015

German gross domestic product rose 1.7% in 2015, according to a preliminary estimate released by Destatis.

The reading, which was in line with economists’ expectations, marked a marginal improvement on the 1.6% growth of 2014 and the strongest rate in four years.

Exports were up 5.4% compared with 4% in 2014, while imports grew 5.7% versus from 3.7%, and private consumption rose 1.9%.

Markus Huber, senior analyst at Peregrine & Black, said the German GDP figures were respectable, particularly In light of slowing growth in China, growing uncertainty over major emerging markets and the negative impact of ongoing sanctions against Russia.

"However, when it comes to the markets, the impact will most likely be very subdued or the figure possibly outright ignored mainly as traders are solely focusing on 2016 with 2015 data being old news."