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German economic growth to slow down in Q3

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Staff Writer | September 20, 2016
German economy
Germany   The significant deterioration in sentiment among companies

Germany's economic growth is to slow down in the third quarter this year, the German central bank said.

"After robust expansion in the spring, German economic output is expected to increase more slowly in the third quarter of 2016," said Bundesbank in its monthly report.

"This is reflected, among other things, in the significant deterioration in sentiment among companies," it added, "Economic indicators at the start of the quarter were very weak, especially in industry."

Driven mainly by domestic demand, Europe's largest economy expanded by 0.7 percent in the first quarter and by 0.4 percent in the second.

In July, Germany's industrial production dropped sharply from the previous month. The growth of factory orders also missed economists' expectations, suggesting subdued industrial activity in the autumn.

Earlier this month, the German economy ministry said the pace of German growth would be lower in the second half year than in the first six months.

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