Germany trims 2016 growth forecast but 'economy in good shape'Staff writer ▼ | January 28, 2016
The German government cut its growth forecast for this year but insisted the economy was still "in good shape".
Slight fall GDP in Germany to grow 1.7% growth in 2016
The figure is in line with data from Destatis earlier this month showing GDP grew 1.7% last year, up from 1.6% growth in 2014 and the strongest rate in four years.
Exports in 2015 were up 5.4% compared with 4% in 2014, while imports grew 5.7% versus from 3.7%, and private consumption rose 1.9%.
Vice chancellor and economy minister Sigmar Gabriel said: "We now have to set the course for the future so that Germany can be a leading, efficient industry location also in 10 years."
The government expects consumer spending to rise 1.9% and state spending to grow 3.5%, and reiterated its intention to keep the federal budget balanced for the third year running ■