February 14, 2017 / 9:35 AM / a year ago

German economy set for sound start in 2017 - ministry

BERLIN (Reuters) - The German economy looks set for a solid performance at the start of 2017, with industrial orders signalling a revival in manufacturing, but trade-related risks are clouding the outlook, the Economy Ministry said on Tuesday.

“Economic indicators are pointing to a solid start for the year 2017,” the ministry said in its monthly report, adding that rising orders in manufacturing and construction signalled economic expansion in the first quarter of 2017.

“However, uncertainties remain especially in the trade environment,” the ministry said. “The outlook for the global economy remains subdued.”

The German economy grew by 0.4 percent in the fourth quarter and by 1.9 percent in the full-year of 2016, data showed on Tuesday, as increased state spending, rising private consumption and construction more than offset a drag from net foreign trade.

Reporting by Michael Nienaber; Editing by Madeline Chambers

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