German recovery looks even stronger - Business - Evening Standard
       

German recovery looks even stronger

The German central bank today revised its growth forecasts upwards for the country's economy.

Germany production will now grow by about 3%, it said — up on the 2% it previously forecast.

"Signs are increasing that the economic recovery in Germany is increasingly self-supporting," the Bundesbank said.

The news will be welcomed by British companies as Germany is one of Britain's biggest markets.

Exports have been especially strong in the German economy's biggest surge since reunification.

The forecast is more optimistic than economy minister Rainer Bruederle's view following GDP data last week that showed Europe's largest economy was set for growth "well above 2%" this year.

The Bundesbank added one downbeat note, saying growth was likely to slow from its surprising surge, slowing exports.

"An argument for that is that the global economy will likely follow a more moderate path of expansion in the second half of the year," it said.

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