February 9, 2017 / 10:13 AM / 8 months ago

Private consumption likely to rise by 1.5 pct in Germany in 2017-GfK

NUREMBERG, Germany, Feb 9 (Reuters) - Private consumption will probably increase by 1.5 percent in real terms in Germany, Europe’s largest economy, this year but the economy faces risks including Brexit and uncertainty about the new U.S. government, the GfK institute said on Thursday,

Household spending has become a key pillar of support for the German economy as exports, its traditional growth driver, have slowed. Strong private consumption helped the economy grow by 1.9 percent in 2016, the strongest rate in half a decade.

GfK said elections in several EU countries as well as inflation were also risks this year. (Reporting by Joern Poltz; Writing by Michelle Martin; editing by Erik Kirschbaum)

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