German economy to grow 1.5% in 2015

• Growth raised from 1.3% forecast in October
• Exports to grow 3.6% 2015 vs 3.7% in 2014
• Imports 4.1% 2015 vs 3.3% 2014
• Unemployment to fall to 6.6% from 6.7% 2014
• Wages +3.2% 2015 vs 2.7% 2014
• Budget close to balance in 2015
• Sees CPI at 0.8%

The German government are out with their latest forecasts and say that growth this year will be driven by domestic demand. They don’t see any deflationary tendencies in Germany and the budget should have a structural surplus in 2015.

For their forecasts they assume a euro price of $1.22 and oil at $59