German IFO’s Fuest: The German economy is booming

Germany’s IFO President Fuest crossed the wires, via Livesquawk, speaking to the reporters after the institute raised the German 2018 GDP growth forecast to 2.6% from 2.0% and to 2.1% in 2019.

Key Headlines:

The German economy is booming.

The momentum from 2017 will extend well into 2018.

Capacity shortages to increase, wage and price hikes to strengthen.

German industry to drive growth thanks to improving economies in the euro area and the rest of the world.