This means that there is the potential for a self-sustaining upswing in Germany. Overall, German economic growth has not only gained momentum but has also become more broadbased over recent quarters. Hence, the conditions are in place for the upturn to last for a considerable period of time.
Against this backdrop and not surprisingly, Germany is no longer seen as “the sick man of Europe” as was the case at the beginning of this decade. The UK, too, was once stuck with this rather unpleasant label, even though that was roughly 30 years ago.