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German economy had decent start to Q2, but growth pace to slow, ministry says

Friday, June 10, 2016 - 15:49
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The German economy had a decent start to the second quarter but its growth pace is likely to slow during the course of the April-June period, the economy ministry said on Friday.

[BERLIN] The German economy had a decent start to the second quarter but its growth pace is likely to slow during the course of the April-June period, the economy ministry said on Friday.

"The German economy had a reasonable start to the second quarter of 2016," the ministry said in its monthly report, adding that private consumption remains the most important growth driver for Europe's largest economy.

The ministry said the economy was on a solid growth path, but the external environment remained tough and was only gradually improving.

"After the positive start to 2016, German economic growth is likely to slow somewhat in the second quarter, not least because the spring recovery in construction is likely to be less pronounced than usual after the mild winter," it added.

REUTERS