German institutes revise up 2016 growth forecast to 1.9 percent
GERMANY - Germany’s leading economic institutes have revised up their 2016 growth forecast for Europe’s largest economy to 1.9 percent from 1.6 percent, several sources familiar with a report due to be presented to the government told Reuters on Wednesday. The institutes revised down their estimate for 2017 growth to 1.4 percent from their previous forecast of 1.5 percent, the sources said.
The German economy by 1.7 percent expanded last year. The institutes are due to publish their report on the outlook for the economy today. The institutes’ forecasts form the basis for the government’s own predictions.