FXStreet (Mumbai) – The Germany’s Bundesbank monthly report released today showed the central bank is of the view that, “the expansion of economic activity in Germany likely strengthened in the second quarter”.
The report says strong domestic consumption is supporting the German economy, while pick up in the export orders is also contributing to growth.
However, the central bank is concerned that a hard landing in China would affect the German economy. The Bundesbank said in June that it expected the economy to grow by 1.5% this year in calendar-adjusted terms, to be followed by growth of 1.7% both next year and the year after.
(Market News Provided by FXstreet)