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German economy likely slowed in late 2017

| Updated: January 14, 2018 14:25:50


A construction site at the river Spree is pictured in Berlin, Germany November 27, 2017. Reuters/File Photo A construction site at the river Spree is pictured in Berlin, Germany November 27, 2017. Reuters/File Photo

German economic growth probably slowed at the end of 2017 but strong order intake and positive business expectations suggest Europe’s largest economy will continue to be robust this year, the Economy Ministry said in its monthly report.

“The German economy is experiencing a strong upturn,” the ministry said, though it added: “At the end of 2017 the strong economic dynamics probably weakened a bit.”

Data published on Thursday showed the German economy grew by 2.2 per cent last year, its strongest rate of expansion since 2011, with consumer spending - boosted by ultra-low borrowing costs, record high employment and rising wages - providing the biggest impetus.

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