Despite slump at start of third quarter, German’s economy looks rosy
Berlin — Germany’s economy weakened at the start of the third quarter after a strong performance in the first half of 2017, but indicators suggest its solid growth will continue, the finance ministry said on Thursday. Europe’s biggest economy is enjoying a consumer-led upswing, propelled by record-high employment, rising real wages and low borrowing costs — conditions that are likely to help Chancellor Angela Merkel win a fourth term in Sunday’s federal election. The ministry, controlled by Merkel’s conservatives and their veteran legislator Wolfgang Schäuble, said in its monthly report that the economy lost some momentum at the beginning of the third quarter. "But recent economic data indicate that the solid upswing will continue also in the third quarter," the ministry said, adding that business morale remained high and German exporters were expected to benefit from a global economic recovery. The German economy grew 0.7% on the quarter in the first three months of the year and 0....
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