Bundesbank Expects German Economy to Expand In Q4
The German Bundesbank has released its regular monthly economic report. According to the German central bank, the economic upswing in Germany is still fundamentally intact and the growth should rebound in the final three months of the year. The report also noted, that business climate improved noticeably in the third quarter, so a significant expansion of economic output is expected for the current quarter.
Germany’s third quarter growth figures will be published in mid-November, and are likely to be sluggish as retail sales were modest and construction output pulled back from earlier highs, exacerbating the hit to growth from a big drop in industrial production.
Recently, the German government cut its 2018 growth forecast to 1.8% from 2.3% and also lowered the 2019 projection to 1.8% from 2.1%, citing the impact of global trade disputes, labor shortages and the auto sector’s difficulties.