Off the wire
• Roundup: Japan celebrates U.S. return of military training land in Okinawa amid protests for resumption of Osprey flights  • Chinese company completes acquisition of controlling stake in Shell Refining in Malaysia  • China "disappointed" by EU trade remedy extension  • Police confirm rescue of tribal king abducted in SE Nigeria  • Putin urges continuous efforts to advance Russia's military prowess  • Saudi 2017 budget attends to financial sustainability  • Britain plans to send 400 troops to South Sudan  • Mongolian researchers warn of danger of inbreeding among population  • Economic Watch: China eyes breakthroughs in SOE reform  • Top political advisor calls for deepened exchanges with Vietnam Fatherland Front  
You are here: 　 Home

Germany's economic growth to slow down in 2017: Deutsche Bank

Xinhua, December 22, 2016 Adjust font size:

Germany's economy is expected to grow 1.1 percent in 2017, down from nearly two percent in 2016,the Deutsche Bank said in a report on Wednesday.

The slower growth rate is partially due to fewer number of working days, said the German commercial bank.

Even if the working day effect was excluded, the growth would still slow down to 1.4 percent next year.

According to the bank, the strong tailwind that has benefitted private consumption and government spending in Germany would taper off due to rising inflation and a marked decrease in the number of refugees entering the country.

Meanwhile, weak global trade and political uncertainty would dampen German exports and investments amid the geopolitical uncertainty in 2017, said the bank.

In addition, Germany might see slower employment growth as a result of the pronounced shortage of skilled workers. Enditem