Advisory council warns German economy overheating: Handelsblatt

BERLIN (Reuters) – The German economy is at risk of overheating, a council of economic advisers to the German government has warned, according to a report published in newspaper Handelsblatt, with output expected to expand strongly this year and next.

In their annual report, due to be published on Wednesday, the five “wise men” said the economy, which they expect to grow by 2 percent this year and 2.2 percent in 2018, was expanding above its capacity and heading gradually into a “boom phase”.

The report urged the government to push for more fiscal consolidation and also to cut taxes, Handelsblatt reported.

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