German Economic Ministry: Economy on solid domestic foundation

Germany’s Economic Ministry is out with its latest economic assessment, highlighting the following:

2017 GDP 2.0% vs 1.5% April f/cast

2018 GDP 1.9% vs 1.6% prev

Expects exports 3.5% In 2017, 4% In 2018

Imports 4.4% In 2017, 4.7% in 2018

CPI at 1.8% In 2017, 1.6% in 2018

On balance trade will not contribute to growth this year or next

Current account surplus will shrink to 7.4% of GDP in 2018 from 8.3% in 2016

Economy on solid domestic foundation

Meanwhile, the Economy Minister Zypries said that he expects to have some trade problems due to Brexit, but the UK is expected to suffer more than the EU27.