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German economy remains on growth path

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Staff Writer |
German economy
Germany   GDP increased by 0.4 percent

The German economy would continue to grow in the coming months despite a slowdown in the second quarter and risks due to Brexit, said the German Finance Ministry.


"The good state of the German economy speaks for a continuation of the economic upturn in the coming months, though external risks have increased with the Brexit referendum," said the ministry in its monthly report.

Germany's gross domestic product (GDP) increased by 0.4 percent in the second quarter of 2016, following a growth of 0.7 percent in the first quarter.

The Finance Ministry said Germany's labour market was still in good shape. Tax revenues also increased in the past months.

"The underlying pace of revenue growth remains positive and is in line with the overall economic development," it said.

In the first seven months of 2016, German federal tax revenues increased by 3.6 percent year on year.


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