Off the wire
• Tranquillo Barnetta, Christian Fuchs to leave Schalke  • Kiev says ready for dialogue with restive east after local elections  • S. Africa rejects allegations about bribing for World Cup 2010  • 47 killed in clashes with IS militants in central Iraq  • U.S. stocks open lower amid worries about Greece  • China's biggest bank shows confidence in Turkey's potentials: official  • The Bard's "Twelfth Night" gets teen edition in China  • Eurozone, EU economic sentiment stable in May  • Urgent: S. African president not responsible for corruption scandal: official  • Air Lituanica to seek bankruptcy  
You are here: 　 Home

German business group raises growth forecast to 1.8 pct

Xinhua, May 28, 2015 Adjust font size:

The Association of German Chambers of Industry and Commerce (DIHK) raised its forecast for German economic growth by 0.5 percentage point on Thursday.

Based on a survey of 23,000 companies, the leading business group now expected Europe's biggest economy to expand by 1.8 percent this year. In its previous forecast, the growth rate was 1.3 percent.

Around 250,000 new jobs would be created as companies planned to expand their investment and hire more people, according to DIHK.

"The growth is picking up. The expectations of companies continued to improve," said Martin Wansleben, CEO of DIHK, adding, "However, there is no euphoria."

He pointed out that the current factors driving economic growth, namely, the low oil price and the weak euro, were changing course.

"The price of oil is rising again, and the euro has stabilized," Wansleben said. Endit