5 Jun 2015
Bundesbank increased German GDP forecast for 2015
FXStreet (Mumbai) - Bundesbank, Germany’s central bank, revised its 2015 German GDP forecast higher to 1.7% from the previous forecast of 1.00%. 2016 GDP forecast was also revised higher to 1.8% from 1.6%.
The 2015 HICP was revised lower to 0.5% in 2015 from 1.1%. HICP is seen at 1.8% in 2016 and 2.2% in 2017. Inflation ex-energy seen at 2.2% in 2017.
ECB’s Weidmann says the key factor for the downward revision in inflation in 2015 was the suppressed oil prices. Bundesbank said the German economy is on the path of growth driven by domestic and foreign demand.
The 2015 HICP was revised lower to 0.5% in 2015 from 1.1%. HICP is seen at 1.8% in 2016 and 2.2% in 2017. Inflation ex-energy seen at 2.2% in 2017.
ECB’s Weidmann says the key factor for the downward revision in inflation in 2015 was the suppressed oil prices. Bundesbank said the German economy is on the path of growth driven by domestic and foreign demand.