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Financial News: Bundesbank Lifts German GDP Outlook

Bundesbank Lifts German GDP Outlook

06/09/2017 - 08:41:00 (RTTNews)

(RTTNews) - Bundesbank on Friday upgraded its growth projections citing strong labor market, consumption and government spending and investment.

The central bank forecast the largest euro area economy to grow 1.9 percent in 2017, 1.7 percent next year and 1.6 percent in 2019. The projections were raised by a percentage point each.

The bank said that the positive outlook is based on a broad, strong upward movement. The supply shortage on the labor market is likely to become increasingly noticeable.

Bundesbank also lifted its inflation outlook for 2017, while downgrading the projections for 2018 and 2019.

The bank forecast 1.5 percent inflation in the current year, which was revised up from 1.4 percent. The outlook for 2018 was lowered to 1.4 percent from 1.7 percent and the 2019 forecast to 1.8 percent from 1.9 percent.

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