German economic growth will slow in second half says the finance ministry

  • Citing weaker foreign demand causing industrial output to slow
  • Strong private consumption, higher state spending and rising construction activity helped the economy to grow by 0.7 percent in the first quarter and by 0.4 percent in the second ... "But the latest economic data indicate a slowdown in economic momentum in the second half of the year"
  • Growth in industrial orders nearly halted in July and factory output and exports unexpectedly fell
  • Expects subdued factory output for the rest of the year
  • The economy will continue to grow
  • Private consumption boosted by record-high employment, rising real wages, low inflation and relatively cheap energy

via Reuters