German economy overcomes headwinds faster than expected: central bank

German economy seemed to have overcome the headwinds it experienced since the start of last year faster than many expected, said German central bank Bundesbank on Monday.

In its first monthly report in 2015, Bundesbank attributed the revival of Europe's biggest economy to falling oil prices and positive sentiments.

"This was largely contributed to the very positive consumer sentiment, which was based on favorable employment and income outlook, and the drops in energy prices," the central bank said, adding that business confidence also recovered in December, industrial production and orders both increased near the end of last year.

The number of employment in Germany hit record in 2014 at 42.7 million people, supporting a strong private consumption which drove the gross domestic product (GDP) to increase by 1.5 percent.

In 2012 and 2013, German economy merely saw growth of 0.4 percent and 0.1 percent respectively.

German statistical office Destatis said earlier this month that German economy benefited "especially from a strong domestic demands", while foreign trade only made a "relatively small contribution".

It was scheduled to release the growth data of the final quarter in 2015 at mid-February. Analysts said the coming figure would show more clearly that German growth accelerated at the end of last year. Endit