Arab Today, arab today german central bank raises growth forecast
Last Updated : GMT 00:07:53
Arab Today, arab today
Arab Today, arab today

German central bank raises growth forecast

Arab Today, arab today

Arab Today, arab today German central bank raises growth forecast

Berlin - AFP

Germany's central bank raised its growth forecast for the German economy next year to 1.7 percent on Friday, citing expanding domestic demand in its upbeat assessment. The forecast was up from the Bundesbank's prediction made in June of 1.5 percent gross domestic product growth for 2014 based on an easing of the wider eurozone crisis. In 2015, it said, the growth rate would accelerate to 2.0 percent. "The German economy is in good shape," said the bank's president Jens Weidmann. "The unemployment rate is low, employment is rising and wage growth is returning to normal." The central bank also raised its GDP growth projection for Germany for this year to "no more than 0.5 percent", from 0.3 percent six months ago. In its report, the bank said the German economy, the biggest in the eurozone, had picked up momentum after being battered in recent years by the turmoil of the global and European financial and economic crises. "Aggregate output is expanding at a faster pace again after an interruption due to the escalation of the sovereign debt crisis in the euro area," it said. "The driving forces are changing, however. While external impulses had the upper hand following the economic and financial crisis, domestic economic activity has come to the fore recently." Weidmann also pointed out that low interest rates are "supporting private consumption and driving housing construction". By contrast, he said, external trade has been weakening, but as the global outlook brightens "there should... also be a pick-up in exports and, in their wake, an upturn in corporate investment and imports". Weidmann predicted that the government will achieve a budget surplus of just under half of one percent of GDP in 2015, but he stressed that this does not factor in policy changes under a new coalition agreement struck since September 22 elections. Chancellor Angela Merkel's victorious conservatives have since the vote agreed on a series of policy compromises to strike a 'grand coalition' deal with the centre-left Social Democrats, including an 8.50 euro ($11.50) hourly nationwide minimum wage from 2015. Joining critics of the minimum wage who argue it is inflexible and will cost jobs, Weidmann said that "a number of the prospective measures in the coalition agreement, such as the minimum wage, risk harming the efficiency of the labour and goods markets."

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today german central bank raises growth forecast Arab Today, arab today german central bank raises growth forecast

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today german central bank raises growth forecast Arab Today, arab today german central bank raises growth forecast

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israeli court convicts Palestinians of 2016

GMT 04:39 2017 Tuesday ,17 October

Israeli court convicts Palestinians of 2016
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday