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Germany's DIHK raises 2017 growth forecast for 1.8 pct
May 23, 2017 / 7:41 AM / 7 months ago

Germany's DIHK raises 2017 growth forecast for 1.8 pct

BERLIN, May 23 (Reuters) - Germany’s DIHK Chambers of Industry and Commerce raised its growth forecast for the German economy to 1.8 percent from its previous estimate of 1.6 percent, the DIHK said on Tuesday.

German exports are expected to rise by 4.0 percent this year, it added.

According to the DIHK’s early summer sentiment survey, business morale regarding current conditions reached its highest level since West and East Germany reunified in 1990, with companies expecting further improvement.

Almost half - 48 percent - of companies reported good business morale, up from 46 percent at the beginning of the year while 44 percent said things were satisfactory and only 8 percent said things were bad.

The DIHK’s survey of 24,000 companies found that 24 percent expected conditions to improve further, 62 percent for them to remain stable and only 13 percent expected a deterioration.

Asked about the biggest threats for future growth, most companies said that a shortage of skilled labour was the principle risk. (Reporting by Gernot Heller; Writing by Michael Nienaber; Editing by Madeline Chambers)

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