BERLIN, April 24 (Reuters) - The prospects for the German economy remain “very good” with the weaker euro helping to offset sluggish growth in some emerging markets, Ifo economist Klaus Wohlrabe told Reuters on Friday.
German business morale rose to its highest level in almost a year in April, a closely watched Ifo survey showed on Friday, in a sign that Europe’s largest economy has started the second quarter on a strong footing.
Wohlrabe said April’s figures supported its spring forecast for economic growth of 2.1 percent this year in Germany and 1.8 percent in 2016.
“The prospects for the German economy continue to be very good,” Wohlrabe said, adding he was not concerned about the slight fall in expectations this month.
“The euro’s weakness is compensating for the sluggish development in several parts of the world,” he said, pointing to large emerging markets like China, Russia and Brazil.
The government has raised its growth forecast to 1.8 percent for this year as Germany rides high on a tide of strong private consumption thank to rising employment and ultra-low interest rates. (Reporting by Joern Poltz in Munich; Writing by Caroline Copley; Editing by Michael Nienaber)