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Fragile world economy dampening German growth - EconMin says
February 12, 2016 / 10:17 AM / 2 years ago

Fragile world economy dampening German growth - EconMin says

BERLIN, Feb 12 (Reuters) - The German economy is on a moderate growth path, the Economy Ministry said in its monthly report on Friday, adding that a fragile world economy was acting as a damper.

The ministry said the domestic services sector was booming, acting as main growth driver for the domestic economy.

“The world economy is currently developing with a moderate impulse,” the ministry wrote in the report. “In the current year, little acceleration is to be expected. Therefore the dull growth of last year will continue.”

It added that turbulence on financial markets at the start of this year due to the low oil price and uncertainty about China was dampening sentiment among German businesses.

Reporting by Joseph Nasr; Editing by Caroline Copley

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