Ger­many ex­pects slower growth in Q3

The Sun (Malaysia) - - SUNBIZ -

BERLIN: A slow­down in the Ger­man econ­omy dur­ing the third quar­ter was ex­pected af­ter strong growth in the first six months of the year, the fi­nance min­istry said yes­ter­day, adding that pri­vate con­sump­tion and state spend­ing were the main driv­ers.

The Ger­man econ­omy grew by 0.2% for the quar­ter af­ter it ex­panded 0.4% in the three months to June as ex­ports weak­ened.

The min­istry said in its monthly re­port that the labour mar­ket re­mained solid and job cre­ation was pos­i­tive in the au­tumn.

“Job cre­ation was main­tained al­beit at a some­what weaker pace than in the first two quar­ters,” the min­istry said. “Un­em­ploy­ment fell fur­ther.” The gov­ern­ment last month raised its 2016 growth forecast to 1.8% from 1.7% pre­vi­ously, which would be the strong­est ex­pan­sion rate in half a decade. – Reuters

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