Germany's economy is likely to expand more than previously projected in 2017, the Economy Ministry said Wednesday. The ministry forecast 1.5% growth this year and 1.6% in 2018. The projection for 2017 was raised from 1.4%. The ministry said construction investment, low interest rates and high demand for housing are the main growth drivers. The current account surplus is forecast to fall to 7.3% in 2018 on strong domestic demand and higher crude prices. Inflation is forecast to increase to 1.8% in 2017 before slowing to 1.6% in 2018.
Powered by Commodity Insights