Germany trims 2017 growth forecast to 1.5 percent

Staff Writer
Columbus CEO

BERLIN (AP) — The German government says it's trimming its growth forecast for 2017 due to fragilities in the global economy.

Economy Minister Sigmar Gabriel said Wednesday that Berlin now expects Europe's biggest economy to grow 1.5 percent, down from the 1.8 percent it had predicted in October. The forecast for 2016 is unchanged at 1.7 percent.

Gabriel said that "the upswing of the German economy will continue in this and in the next year."

He says Germany expects a record number of people employed in 2017, though he's also predicting an uptick of 110,000 in those unemployed because of "the gradual integration of the refugees into the job market."

Germany saw an estimated 1.1 million migrants and asylum seekers enter last year though the numbers have tapered off.