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Additional information<br />
General economic setting<br />
Germany<br />
Growth in the German economy<br />
continued to weaken<br />
generally in 1996. Real gross<br />
domestic product rose by<br />
only 1.4 percent compared<br />
with 1.9 percent in the preceding<br />
year. In eastern Germany,<br />
the economic slowdown was<br />
especially marked, gross domestic<br />
product growing by a<br />
real 2.0 percent following a<br />
5.3-percent increase in 1995.<br />
The 1.3-percent rise in gross<br />
domestic product in western<br />
Germany was also down from<br />
1.6 percent in 1995.<br />
A crucial factor in the economic<br />
downturn was declining<br />
construction activity, expenditure<br />
for building falling by a<br />
real 2.7 percent. On the other<br />
hand, expenditure for capital<br />
equipment (up 2.4 percent),<br />
government consumption (up<br />
2.6 percent) and exports (up<br />
4.9 percent), which benefited<br />
from the slight drop in the parity<br />
of the German mark, made<br />
an above-average contribution<br />
to real economic growth.<br />
Private consumption – up by<br />
1.3 percent and just below the<br />
rise in gross domestic product<br />
– provided no impetus.<br />
Overall productivity rose by<br />
2.5 percent. Real growth of<br />
1.4 percent was achieved<br />
solely through increased productivity,<br />
with an on balance<br />
negative effect on the employment<br />
market. The national<br />
unemployment rate thus<br />
climbed to 11.5 percent, with<br />
a higher increase in eastern<br />
Germany from 14.9 percent<br />
to 16.7 percent than in the<br />
western part of the country<br />
(up to 10.1 percent from 9.3<br />
percent). On an annual average,<br />
some 4 million people<br />
were registered as unemployed<br />
in Germany in 1996,<br />
9.8 percent more than in 1995.<br />
Gross domestic product<br />
real % change<br />
+4<br />
+3<br />
+2<br />
+1<br />
0<br />
-1<br />
-2<br />
-3<br />
-4<br />
92 93 94 95 96<br />
Private consumption<br />
real % change<br />
+4<br />
+3<br />
+2<br />
+1<br />
0<br />
-1<br />
-2<br />
-3<br />
-4<br />
92 93 94 95 96<br />
Retail trade sales<br />
real % change<br />
+4<br />
+3<br />
+2<br />
+1<br />
0<br />
-1<br />
-2<br />
-3<br />
-4<br />
<strong>METRO</strong> <strong>AG</strong><br />
92 93 94 95 96<br />
Strict retail trade sales 1)<br />
real % change<br />
+4<br />
+3<br />
+2<br />
+1<br />
0<br />
-1<br />
-2<br />
-3<br />
-4<br />
92 93 94 95 96<br />
1) Excl. motor car, fuel, lubricant, and<br />
pharmacy sales<br />
19
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