Quarterly Report Germany IV/2016

Despite a slowdown in the rate of growth during the course of the year, we still believe that our growth forecast of 1.9 percent for real GDP in Germany this year is realistic. The German economy continued to grow, though at a slower pace. Towards the end of the year, the only factor still driving growth was the domestic economy. This trend is set to continue in the fourth quarter, making the growth contribution of consumption expenditure the key determinant of overall performance.