06 December 2013 17:02 [Source: ICIS news]
LONDON (ICIS)--Germany’s central bank, the Bundesbank, on Friday raised its 2014 GDP growth forecast for the country to 1.7%, from its previous projection of 1.5%.
The Bundesbank said Europe’s largest economy was on an “expansion course”.
“The German economy is in good shape: the unemployment rate is low, employment is rising, and wage growth is returning to normal,” said Bundesbank president Jens Weidmann.
“These factors are supporting private consumption and driving housing construction,” Weidmann said.
“There should, however, also be a pick-up in exports and, in their wake, an upturn in corporate investment and imports,” he added.
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