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German govt holds 2017 growth forecast at 1.4%

[BERLIN] The German government will leave its 2017 forecast for economic growth unchanged at 1.4 per cent despite uncertainties surrounding the policies of US President Donald Trump, coalition sources told Reuters on Monday.

Economy Minister Sigmar Gabriel will present the latest forecast to Chancellor Angela Merkel's cabinet on Wednesday.

"The (growth) expectation is 1.4 per cent," said a coalition source with access to the report.

In October the government lowered its 2017 forecast from 1.5 per cent to 1.4 per cent. In November, the government's panel of economic advisers lowered its forecast to 1.3 per cent from a previous estimate of 1.6 per cent.

Europe's largest economy expanded at the fastest pace in five years in 2016, growing by 1.9 per cent thanks to rising private and state spending, according to the Federal Statistics Office.

REUTERS

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