Germany's economy grew at the fastest rate in two years during the first quarter, driven by corporate investment, consumer spending and a mild winter, dpa reported. Europe's largest economy expanded 0.7 per cent in the first quarter, Germany's statistics agency reported Tuesday, confirming an initial gross domestic product (GDP) estimate from two weeks ago. Investments in machinery, equipment and vehicles were the main drivers of corporate spending. Additionally, private spending and government spending - particularly for the accommodation and integration of a record influx of migrants last year - helped growth. Foreign trade had a negative impact on GDP, since exports increased at only 1 percentage point, while imports grew more quickly.
