28080
Germany Trims Growth Outlook
World Economy

Germany Trims Growth Outlook

The German government Wednesday slightly trimmed its 2015 growth forecast due to the slowdown in emerging economies, but said domestic consumption would likely more than offset the external weakness.
Output growth was now expected to reach 1.7% for 2015, and 1.8% for 2016, said Economy Minister Sigmar Gabriel, who six months ago had predicted growth for both years at 1.8%, AFP reported.
Gabriel said the German economy was expected to power ahead as strong domestic consumption outweighs "gloomier global growth outlook due to slowing growth in China and in raw materials-rich emerging countries."
However, "the biggest challenge for Germany is the high numbers of refugees migrating here from crisis zones," said Gabriel, who is also vice chancellor.
Germany is expecting to host between 800,000 and 1 million new arrivals this year as local authorities are struggling to cope with the sudden surge.
But the government has said its economy is solid enough to absorb the newcomers. Gabriel outlined strong economic fundamentals, with wages expected to rise 2.6% this year and 2.4% next year.
Unemployment is expected to fall this year by 98,000 from 6.4% in September, the lowest level since German reunification in 1990. Next year, despite the massive migrant influx, the forecast is for unemployment to rise only by 60,000.

 

Short URL : https://goo.gl/o0X7Jk
  1. https://goo.gl/e9MVeE
  • https://goo.gl/vYPM8g
  • https://goo.gl/GpWw7t
  • https://goo.gl/2rgYjC
  • https://goo.gl/pjPK5i

You can also read ...

Cyber threats are ever-evolving.
The White House released a report that found that the economic...
Global Investors Target Zimbabwe Energy Sector
Zimbabwe has become a magnet for billionaire global firms such...
BSP said the planned RRR cuts are part of the bank’s financial market reforms.
The Bangko Sentral ng Pilipinas said it was reducing banks’...
FAO regional representative Julio Berdegue (R), and the deputy regional representative Eve Crowley.
Identifying territories where rural poverty is most entrenched...
Asean Labor Flows Hit a Wall
Tighter restrictions on foreign labor in Malaysia and Thailand...
Lagarde Backs Creation of European Monetary Fund
International Monetary Fund chief Christine Lagarde has no...
The country’s GDP grew by 3.2% in 2017 but will  edge down in the coming years.
A report by the International Monetary Fund showed Sunday that...
Baby-boomers will start turning 75 or older in 2022, which is expected to trigger a surge in health care and nursing care costs.
Amid stalling inflation and ballooning government spending,...

Trending

Googleplus