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Financial News: German Think Tanks Lift Growth Projections

German Think Tanks Lift Growth Projections

04/19/2018 - 06:46:00 (RTTNews)

(RTTNews) - Germany's economy is forecast to expand at a faster pace as the upturn in the global economy stimulate exports amid strong labor market underpinning domestic activity, the leading economic institutes said in a joint report released Thursday.

In the Joint Economic Forecast, the agencies said the largest euro area economy is forecast to grow 2.2 percent this year, faster than the previous projection of 2 percent. Likewise, the outlook for 2019 was revised to 2 percent from 1.8 percent.

Inflation is forecast to rise gradually to 1.9 percent in 2019 from 1.7 percent this year.

The fiscal measures outlined by Germany's new government in its coalition agreement can be expected to stimulate demand.

Employment will continue to see clear growth, but will be weakened by labor market shortages. The jobless rate is forecast to drop to 5.2 percent in 2018 before easing to 4.8 percent next year.

The institutes that took part in the report were DIW, IfW, IWH, Ifo and RWI.

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