Germany revises its economic growth forecast
The German government slightly reduced the economic growth forecast for 2016 due to the slowdown in emerging markets. At the same time, Europe's largest economy will be supported by strong domestic demand and a record level of employment in the country. According to revised estimates, German GDP will grow by 1.7% this year not 1.8% as expected in October. Last year, GDP growth in Germany was 1.7%, according to data released by the Federal Statistical Office of Germany.