Leading German Think Tanks Raise Growth Forecasts for 2018, 2019
19 April 2018 - 06:43PM
Dow Jones News
By Nina Adam
FRANKFURT--A group of leading German think tanks on Thursday
raised their growth estimates for Europe's largest economy, but
warned that a further increase in trade tensions between the
world's largest economies would undermine the global expansion.
"The German economy is experiencing a boom," the group said in
its spring report, which usually serves as a reference for the
German government's own economic predictions.
The think tanks now forecast growth of 2.2% in 2018 and 2.0% in
2019. Last fall, they predicted growth of 2.0% in 2018 and 1.8% in
2019.
The better outlook comes despite a recent string of soft
economic data in Germany and elsewhere in the eurozone, sliding
business sentiment and the threat of greater protectionism.
The think tanks said that special effects, such as an unusually
high number of sick days and bank holidays, had dampened German
exports and production at the start of the year, but the economy
should pick up speed again following this brief "dent."
Write to Nina Adam at nina.adam@wsj.com
(END) Dow Jones Newswires
April 19, 2018 04:28 ET (08:28 GMT)
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