German Economy To Continue Upward Trend, Says Bundesbank

German Economy To Continue Upward Trend, Says Bundesbank


The German economy will continue its upward trend amid high uncertainty, the Bundesbank said in its monthly report for September.
The economy made a good start to the summer quarter, it said. Household consumption and construction activity remain robust.
The central bank, however, warned that future development is subject to great uncertainty. The labor market is showing signs of a weaker economy, the bank added.
The German economy expanded 0.3 percent in the June quarter. Citing weak domestic investment and slowing global growth, Germany's IfW think tank this month downgraded its growth projection for both 2012 and 2013 to 0.8 percent and 1.1 percent respectively.