Consumption to help german economy grow – Bundesbank

FXStreet (Mumbai) - The Bundesbank monthly bulletin released on Monday showed the German economy is expected to continue to grow on the back of consumption. The report follows last week’s GDP data which showed the economy grew at a sluggish pace in the first quarter.

“The dent in the global economy held back exports, while imports strongly increased” the Deutsche Bundesbank said in its monthly bulletin Monday. Looking ahead, the central bank said the German economy “will probably expand further in coming months” on the back of consumers.

On industry, the bulletin said German industry should move for now only at a “sluggish” pace. Still, a strengthening world economy and the low value of the euro should boost exports to nations outside the single-currency bloc.