Germany's economy grew at its fastest pace in three years in 2014 and posted its third annual budget surplus after regaining modest momentum in the final quarter, data released on Thursday showed. According to dpa, Europe's biggest economy grew by 1.5 per cent last year. Gross domestic product (GDP) expanded by about 0.25 quarter on quarter in the final three months of the year following a bout of weakness in the middle of 2014, the statistics office Destatis said. The 2014 growth rate was in line with analysts' forecasts. The pickup was driven by a solid gain in domestic demand and a jump in exports. "The German economy turned out to be strong in a difficult global economic environment, benefiting especially from a strong domestic demand," said Destatis chief Roderich Egeler.
