Germany Fin Min Monthly Report: National economy remains solid despite global weakness

Following are the key headlines crossing the wires, via Reuters, from Germany Finance Ministry monthly's report, where its highlighted that German economy should remain on a solid footing in 2016, despite weakness in the global economy:

  • Finance ministry expects a slight growth in exports over the rest of the year
  • Cites low interest rates, a robust job market and rising wages contributing to a moderate upswing
  • Says earlier this month the government raised its 2016 growth forecast to 1.8 percent from 1.7 percent previously (would be the strongest expansion rate 5 years)
  • Private consumption the main growth driver, this should remain the case in H2
  • Industrial production was weak in Q3, would be only a small boost for the economy in H2