German panel of economic experts lowers 2017 growth forecast: sources
- Nasdaq hits record; bank earnings validate Wall St. rally
- Intrawest Resorts (SNOW) Exploring a Possible Sale - Reuters
- Alibaba (BABA) Has No Plans to Acquire Rest of Groupon (GRPN) - Source
- Time (TIME) Said to Soon Begin Discussions with Interested Buyers - Bloomberg
- JPMorgan (JPM) Reports Q4 EPS of $1.71
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
BERLIN (Reuters) - The German government's panel of economic advisers has lowered its growth forecast for Germany next year, projecting an expansion of 1.3 percent from a previous estimate of 1.6 percent, sources told Reuters on Tuesday.
The figure is slightly lower than the government's own prediction of 1.4 percent growth next year. The panel will present it economic report to the government on Wednesday.
The panel is also expected to raise its 2016 growth forecast to 1.9 percent from 1.5 percent. The government expects growth of 1.8 percent this year, which would be the strongest rate in five years, helped by soaring private consumption and higher state spending.
The panel has urged the government to increase investment on infrastructure, schools and high technology as well as to implement structural reforms to encourage private investment.
(Reporting by Klaus Lauer and Rene Wagner; Writing by Joseph Nasr Editing by Jeremy Gaunt)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- 'Fantasy' to think others will follow Brexit, EU's Moscovici tells Trump
- Ivory Coast mutineers say reach deal amid fears of renewed revolt
- Pakistan villagers attack convoy of Qatar royal hunting rare bird
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!