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Germany has raised its 2017 growth forecast to 2.2 percent

January 12, 2018 12:05 am Published by

Germany's Industrial production and exports rose more than expected in November of 2017. According to the Federal Statistics Office,  the country's Industrial output jumped 3.4 percent for the month (November 2017), marking the biggest increase since September of 2009, This has prompted the German government to raise its estimate for growth in 2017 and 2018.

The economy is stable. And, we assume that it will continue at about the same level.-  Germany's Deputy Economy Minister

Soon after the data was released from the Federal Statistics Office, the government raised its 2017 growth forecast to 2.2 percent from a previous estimate of 2.0 percent. A breakdown of the output data showed the main drivers were capital and consumer goods spending, as well as construction.

The economy in Germany has expanded every year for the past eight years, and has continued to improve even though Chancellor Merkel failed to form a new coalition government after the national election in September of 2017, creating a political deadlock.

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