Frankfurt — The German economy is firing on all cylinders. From consumer spending to investment to exports, all parts of the economy helped push growth to 0.6% in the first quarter, the fastest in a year, according to data seen on Tuesday. And momentum is set to remain strong: business confidence probably rose in May to the highest level in almost six years, according to a Bloomberg survey of economists. "This is a very bright picture of the German economy," said Jens Kramer, an economist at NordLB in Hanover. "Growth is healthy because consumer spending is strong and investments are strong while trade continues to contribute to the expansion." Construction surged the most in three years as mild winter weather bolstered activity. Spending on new equipment increased at the fastest pace since the end of 2015, according to the statistics office. The seasonally adjusted increase in GDP matched a May 12 estimate. Germany, Europe’s largest economy, has been key to the eurozone’s recovery,...
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