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The downward economic momentum in the emerging markets will be a biggest headwind for German economy next year. Therefore, growth rate of the economy is projected at 1.30% for 2016, forecasts Commerzbank.
The growth rate will be underpinned by the strong domestic activities. Wages are expected to post a healthy growth rate of 3%, and thereby, private consumption in the economy will increase. In addition, the upcoming labor market reforms of the German government will back the economic growth rate.
