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Office equipment lifts Germany’s economy

By Paperstone on January 11, 2007 in Office Supplies

Office equipment has helped the German economy grow at its fastest rate in six years, according to reports.

The German Federal Statistics Office has revealed that the gross domestic product (GDP) for the country rose by 2.5 per cent in 2006, up 1.6 per cent on the increase scene in 2005.

According to experts, this has been driven by increased demand at home and abroad for German products, particularly cars and equipment such as office supplies, as well as construction firms and other sectors of the workforce.

However, despite the buoyant German economy, experts have warned that some households might not be coping as well due to wage limitations.

Sandra Petcov, an analyst with the financial firm Lehman Brothers, told the BBC: "We know that households did not fare very well.

"Household income was up 1.7 per cent year on year. If you consider that the inflation rate in Germany was still fairly strong last year, at about 1.8 per cent, that’s still stagnation in real income in Germany."

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