FRANKFURT, Dec.22 (Xinhua)-- Germany's economy is expected to grow 1.1 percent in 2017, down from nearly two percent in 2016,the Deutsche Bank said in a report on Wednesday.
The slower growth rate is partially due to fewer number of working days, said the German commercial bank.
Even if the working day effect was excluded, the growth would still slow down to 1.4 percent next year.
According to the bank, the strong tailwind that has benefitted private consumption and government spending in Germany would taper off due to rising inflation and a marked decrease in the number of refugees entering the country.
Meanwhile, weak global trade and political uncertainty would dampen German exports and investments amid the geopolitical uncertainty in 2017, said the bank.
In addition, Germany might see slower employment growth as a result of the pronounced shortage of skilled workers.
