(MENAFN) Economic institutes in Germany expect that the economy will perform much better next year on the back of domestic demands, Xinhua reported.
The German Institute for Economic Research (DIW) said the expected growth for this year is at 0.4 percent and that next year the gross domestic product (GDP) is to grow by an estimated 1.7 percent.
Consumer spending will be the main drive behind the growth which is projected to increase by 1 percent this year and 1.4 percent in 2014, the DIW said.
It is worth mentioning that Europe's largest economy expanded by only 0.7 percent last year following an expansion of 3.3 percent the year before it and 4 percent in 2010.
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