The German economy is likely to see a slower growth rate during the rest of this year, the Finance Ministry said in its latest monthly report released Monday.
Declining demand from the euro area economies is weighing on German economy, the Ministry said in the report. It noted that leading indicators point to a certain weakening of export momentum in the course of the year.
According to recent official data, the gross domestic product rose 0.3 percent quarter-on-quarter in the second quarter following 0.5 percent increase in the previous quarter.
Continued growth in employment and wages also supported increase in tax revenue. During the first seven months of the year, tax revenue rose 5 percent compared to the same period last year, the report showed.
by RTT Staff Writer
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