In 2016 and the beginning of 2017, Germany’s economy experienced a significant growth, mainly due to increase in consumer spending and industrial exports. The economy grew, despite the early global political uncertainties, and authorities said that the German economy seemed unfazed by such uncertainties. According to Germany’s central bank, the country’s economy is expected to continue to grow the current and next quarters.
According to the central bank, “The strong economic upturn in the German economy is expected to continue in the third quarter, with industrial output probably continuing to play an important role, thanks to a substantial expansion in exports”. Furthermore, the bank added that forecasts predict that the industrial output I set to grow as well in the current quarter.
Due to such outcome, according to the Bundesbank, the growth forecast has now been adjusted to 1.9% growth in 2017. In quarterly terms, the German economy grew by 0.6%. With regards to annualised growth in the first quarter, the economy grew by 2.9% and 2.5% in the second quarter.