German Govt sees GDP at 1.7% in 2016 (unchanged), 1.5% in 2017

In it’s Spring Projection released Wednesday, the German economy ministry left 2016 GDP forecast unchanged at +1.7%.

Key points from the report:

German GDP would grow by 1.7% unchanged from its previous forecast in January. That rate would slow to 1.5 next year

Pvt consumption up 2% in 2016 vs +1.9% in Jan

2016 exports up +2.9% vs +3.2% prev

2016 imports +5.2% vs +4.8% prev

Domestic demand +2.6% in 2016 vs +2.3% prev

Equipment investment up 2.6% in 2016 vs +2.25 prev forecast

Construction investment +2.7% in 2016 vs +2.35 prev

Economy Minister Sigmar Gabriel said in Berlin, “Economic upswing upturn will continue this year and next. Domestic growth drivers have become more important.”