berlin (reuters) – the recovery of the german economy has increased and is expected to continue in the second half of the year, however, while losing some momentum after the rapid growth in the first six months of the year, announced friday the ministry of economic affairs.
the largest economy in europe is growing strong, driven by consumption, including a record level of employment, low inflation and low borrowing costs.
the recovery of the german economy is gaining ground. in addition to consumer spending and construction, exports and investment in equipment is improved, the department said in its monthly report.
the german growth was 0.7 per cent in the first quarter compared to the previous quarter and 0.6% in the second, led by an increase in consumer spending and the state, as well as business investment, particularly in construction and equipment.
the indicators show a sustained recovery in the second half, but the momentum will not be quite as strong as the first, “the department said.
the german government has raised its growth forecast, from 1.5% to 2% in 2017, and 1.6% to 1.9% in 2018.
adjusted for the effects of time, these figures provide a gdp growth rate of 2.2% in 2017, and germany from 2.0% in 2018, which would be the best country performance, since the rebound of 3.7% of gdp in 2011, in the aftermath of the financial crisis.
(michael nienaber, juliet rouillon for services in french, edited by marc angrand)
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Translated by forexguides.info Team