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German economy could lose some momentum in second half - ministry

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German economy could lose some momentum in second half - ministry

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BERLIN (Reuters) – The German economy will continue its solid upswing after robust growth in the first six months of the year but it could lose some momentum in the second half of 2017, the economy ministry said on Tuesday. Record-high employment, rising real wages and ultra-low borrowing costs are powering a consumer-led upswing in Europe’s biggest economy that looks set to help Chancellor Angela Merkel win a fourth term in office in a federal election on Sept. 24. “The German economy will continue to grow in the second half of the year. However, the dynamics are likely to be somewhat weaker,” the ministry said in its monthly report. It added that private consumption would remain an important driver of the economic upswing. But a somewhat clouded mood in the retail sector could point to a slight cooling in the third quarter after the strong second quarter, it added.

(Reporting by Michael Nienaber,; Editing by Joseph Nasr)
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