Germany's economic boom will continue throughout the summer, a study published Thursday by the German Institute for Economic Research (DIW) predicts.
The DIW's economists forecast GDP to increase by 0.5 percent in the third quarter of 2017. "After a strong first half year, the German economy's growth remains above average," Ferdinand Fichtner of the DIW said.
The DIW's forecast was released on the same day as the market research institute GfK's regular consumer climate index. The Nuernberg-based researchers at the GfK announced on Thursday that the index had reached its highest level in nearly 16 years thanks to the economy's lasting momentum.
The index surprisingly rose by 0.2 points to 10.8, the fourth consecutive monthly gain. Economists had predicted stagnation.
GfK expert Rolf Buerkl said that consumers were more optimistic about economic prospects and viewed their own financial situation more favorable than at any time since German unification.
Figures released earlier this month showed that German production grew 1.2 percent in May, well ahead of forecasts for 0.2 percent growth.
As a consequence, industrial output has risen for five consecutive months, the best track record witnessed since the outbreak of the European sovereign debt crisis in 2010.
According to the Federal Labor Office, the German unemployment rate stood at a historical low of 5.5 percent in June 2017.
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