(Reuters) - The German economy got off to a solid start in the first quarter and the data point towards a broad upturn, the Finance Ministry said in its monthly report for March released on Tuesday.
The Finance Ministry said, however, that Germany's tax revenues, excluding purely local tax income, were down 0.1 percent in February due largely to technical delays associated with a shift to the Single European Payments Area (SEPA) project that is simplifying bank transfers and direct debits.
The ministry said that federal revenues through February were 0.3 percent below year-earlier levels. "The German economy got off to a good start in the first quarter," the ministry said in its monthly report.
"The economic data point towards a broad-based upturn this year." The ministry said the labor market in Germany is in good shape and that the unemployment rate in February fell for a third straight month.
It added the consumer prices were also rising moderately. It said an increase in the consumer price index in February was partially negated by falling heating oil and energy prices.
reuters.com
The Finance Ministry said, however, that Germany's tax revenues, excluding purely local tax income, were down 0.1 percent in February due largely to technical delays associated with a shift to the Single European Payments Area (SEPA) project that is simplifying bank transfers and direct debits.
The ministry said that federal revenues through February were 0.3 percent below year-earlier levels. "The German economy got off to a good start in the first quarter," the ministry said in its monthly report.
"The economic data point towards a broad-based upturn this year." The ministry said the labor market in Germany is in good shape and that the unemployment rate in February fell for a third straight month.
It added the consumer prices were also rising moderately. It said an increase in the consumer price index in February was partially negated by falling heating oil and energy prices.
reuters.com
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