Germany’s economic boom is accelerating in the first quarter, driven by companies’ full order books from abroad, according to think tank DIW.
The Berlin-based institute predicts 0.7% quarterly growth during the first three months of the year after 0.6% expansion during the fourth quarter.
“The excellent order situation signals that the upswing won’t run out of breath any time soon,” said DIW economist Simon Junker.
But he said demand from abroad will slow toward the end of the year because the upswing in the U.S. should slow and China was heading toward weaker growth rates.
He also said the euro’s strength will likely curb demand.
Source: Dow Jones