The data on GDP growth in Germany by 0.1% in Q3 2014 coincided with forecasts of analysts. Compared to the same period of the last year the Europe's largest economy grew by 1.2%. Domestic demand declined by 0.2%, but the volume of trade increased by 0.2%. Private consumption grew by 0.7% and governmental by 0.6%. The main positive was the growth of exports by 1.9%. Yesterday it became known about the growth of the index of business confidence in Germany to 104.7, against the forecast of 103.0. In this regard, we have improved the outlook for the stock market in Germany, but note the negative impact of weak growth in the euro area. We estimate that in the near future growth will continue, but it is too early to talk about growth in the medium term.