Ministry expects this year to be up 170 thousand. New jobs, bringing the number of employees will reach a record 42.8 million. People. Projected growth in exports by 3.6% after 3.7% increase over last year. Imports are expected to increase by 4.1% compared to 3.3 percent in 2014. The strong labor market and low-cost fuel support consumer confidence according to the monthly survey institute GfK reached a 13-year high. "The outlook for consumption continued to improve. It can be expected that domestic consumption will provide an important contribution to overall economic growth this year," stated by GfK.
The new government forecasts also come after Monday institute Ifo publishes its monthly survey of the business climate in Germany, showing improvement for the third consecutive month. This shows that the German economy is well positioned to benefit from lower oil prices and a weak exchange rate of the single currency, which will make exporting firms more competitive on world markets.
"The German economy is in good condition. Employment is at a record high, unemployment is falling and the overall performance of the labor market allows a significant increase in wages," the report stated the government. The document also noted that export conditions continue to be difficult because of geopolitical tensions and sustainable weakness of most economies in the eurozone, but these factors will be offset by cheaper fuels.