(MENAFN) As a result of rising private consumption and investment, the German economy would expand by 1.7 percent next year after a 0.5 percent growth this year, Xinhuanet reported.
Outgoing Economy Minister said, "The German economy is back on a solid growth path," adding that supporting pillar of growth is the domestic economic forces with companies again investing more in equipment and construction, and private consumption strengthening thanks to rising employment and incomes.
The autumn economic forecast of the German government announced that, Europe's largest economy will add 235,000 jobs this year and 180,000 next year.
However, private investment would still see a decrease of 1.6 percent this year due to drops last year and a weak first quarter. The investment is expected to jump 4.6 percent next year.
Because of a "fragile" global economy and "muted but improving" demand from its key markets, especially the emerging economies, Germany would see its exports grow only by 0.3 percent this year but 3.8 percent next year.
Germany's imports are expected to grow by 1.1 percent this year and 4.5 percent next year.
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