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German central bank sees solid German growth to continue in H2

Xinhua, August 18, 2015 Adjust font size:

Growth in Germany was expected to remain strong in the coming months following a solid start of current year, said the country's central bank on Monday.

"From today's perspective, the conditions are in place for the continuation of a rather strong economic growth in the second half of 2015 supported by both foreign and domestic demand," said the Bundesbank in its monthly report.

The German economy expanded by 0.4 percent in the second quarter, thanks mainly to a reviving foreign demand, following a moderate growth of 0.3 percent supported by private consumption at the year start.

The Bundesbank said the growth data of the first six months showed a recovery of German economy, the biggest one in Europe. It currently expected Germany's gross domestic product to increase by 1.7 percent over the whole year of 2015.

According to the central bank, the German economy would benefit from a stable labour market, as well as upbeat outlook of foreign markets, especially the United States and Great Britain.

A weak euro and a recovery in the euro zone would also support exports, Germany's traditional growth engine, in the second half year, the bank said. Endit