German Finance Ministry: Slowdown expected in Q3 growth

The German finance ministry published its monthly economic report on Monday, predicting that the German economy is expected to slowdown in Q3 2016 after a strong growth reported in H1 this year.

Key Points via Reuters:

Economy grew by 0.2% in Q3 verbs 0.4% in Q2

Slowdown was expected after strong growth in the first six months of the year

Private consumption & government state spending the main drivers

Job creation was maintained but at a slower pace than in H1

Unemployment fell further

Govt last month raised its 2016 growth forecast to 1.8% versus 1.7% previously, marking the strongest expansion rate in half a decade

Leading economic institutes predict a growth rate of 1.9% this year