Photo: DPAThe German government upgraded its economic forecast for 2017 slightly Wednesday, saying that strong domestic consumption would increase growth and bring down its much-criticised trade surplus. Europe's largest economy should expand by 1.5 percent this year, Economy Minister Brigitte Zypries told journalists in Berlin, slightly more than the 1.4 percent predicted in January. "The German economy is growing solidly and remains on an expansionary path. "Good conditions in the labour market and strong increases in employment assure a strong domestic economy." Meanwhile, Germany's trade surplus -- which has arisen because it exports more than it imports -- is expected to shrink, as demand from firms and consumers at home grows faster than the world economy and global trade.

Source: The Local April 26, 2017 09:45 UTC