German economic ministry out with latest assessment 11 Oct

  • 2017 GDP 2.0% vs 1.5% April f/cast
  • 2018 GDP 1.9% vs 1.6% prev
  • expects exports 3.5% In 2017, 4% In 2018
  • imports 4.4% In 2017, 4.7% in 2018
  • CPI at 1.8% In 2017, 1.6% in 2018

Says the ministry:

  • on balance trade will not contribute to growth this year or next
  • current account surplus will shrink to 7.4% of GDP in 2018 from 8.3% in 2016
  • economy on solid domestic foundation

Economy minister Zypries:

  • expect to have some trade problems due to Brexit but UK will suffer more than EU27

Meeeeeeooooww.

Meanwhile EURUSD steady around 1.1814, EURGBP 0.8955 EURJPY 132.62