German econ min sees 2016, 2017 growth comparable to 1.7% in 2015

[BERLIN] German Economy Minister Sigmar Gabriel on Wednesday said he expected growth in Europe's largest economy in 2016 and 2017 to be comparable to the 1.7 per cent expansion Germany achieved in 2015.

"We expect comparable numbers this year and next," Mr Gabriel told an event for medium-sized businesses.

Germany's leading economic institutes on Wednesday revised up their 2016 growth forecast to 1.9 per cent from 1.6 per cent, several sources familiar with a report due to be presented to the government told Reuters on Wednesday.

The institutes revised down their estimate for 2017 growth to 1.4 per cent from their previous forecast of 1.5 per cent, the sources said.

REUTERS