Bun­des­bank has con­fi­dence in Ger­man econ­omy

The Myanmar Times - - International Business -

THE Ger­man econ­omy will pick up speed again in the fi­nal months of the year fol­low­ing a sum­mer slow­down, the coun­try’s cen­tral bank pre­dicted.

With do­mes­tic con­sump­tion set to re­main strong, the im­proved out­look was driven by the man­u­fac­tur­ing sec­tor, which is bank­ing on a rise in in­dus­trial or­ders, and higher ex­port ex­pec­ta­tions, the Bun­des­bank said in its monthly re­port.

“In the fi­nal quar­ter, Ger­man eco­nomic growth is likely to strengthen con­sid­er­ably fol­low­ing a sum­mer slow­down,” it said. “Sen­ti­ment has bright­ened sig­nif­i­cantly lately.”

Europe’s top econ­omy ex­panded by just 0.2 per­cent in the third quar­ter of the year, of­fi­cial data showed last week, down from 0.7pc and 0.4pc in the first and sec­ond quar­ters.

The euro­zone as a whole grew by 0.3pc in the third quar­ter.

Like the Bun­des­bank, an­a­lysts were san­guine about Ger­many’s dis­ap­point­ing quar­ter, point­ing out that busi­ness con­fi­dence reached a twoyear high in Novem­ber as fears re­ceded over any im­me­di­ate blow to trade af­ter the Brexit vote in June. –

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