Domestic demand to propel German growth this year and next: ministry

BERLIN (Reuters) – Robust domestic demand will drive German growth of 1.8 percent this year and next, the economy ministry said on Thursday, adding that net trade will not contribute to the expansion in Europe’s largest economy.

Economy Minister Peter Altmaier said that Germany’s growth outlook was clouded by protectionist tendencies and international trade disputes, adding that Berlin wanted quick implementation of an EU-U.S. tariffs deal reached earlier this year to solve the transatlantic trade conflict.

The government’s updated growth forecast confirmed a Reuters report on Wednesday that showed Berlin views an escalation in the global trade dispute as the main risk for the future.

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