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Spring 2017 economic forecast: interview with Ferdinand Fichtner

Interview of March 20, 2017

Mr. Fichtner, will the German economy be able to maintain 2016’s growth momentum over the course of the current year?

Although Germany’s economic growth will be a bit lower in 2017, this is primarily due to the fact that there are fewer workdays this year than there were last year – and not because the economy is running out of steam. Another factor is the recent sharp increase in energy prices and its effect on consumer prices, which will have a negative effect on households’ purchasing power. Private consumption is thus unlikely to create the same strong impulses that it did last year. Overall, we are projecting a GDP growth rate of 1.4% for 2017, which is somewhat less than last year’s rate of 1.9 percent. [...]

Topics: Business cycles