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Chambers of commerce see Germany's 2017 growth at 2.3 percent: report

Reuters  |  BERLIN 

(Reuters) - The German chambers of industry and commerce will raise its 2017 growth forecast for Europe's largest to 2.3 percent, Der Spiegel magazine reported on Saturday.

in October raised its growth forecast to 2.0 percent from 1.8 percent, saying the was firing on all cylinders helped by both exports and private consumption.

The also expects the to generate an additional 12 billion euros ($14.27 billion) in tax revenues by 2020, Der Spiegel said, which would give the next government greater fiscal leeway.

Conservative Chancellor Angela Merkel has turned to the centre-left Social Democrats (SPD) as she seeks to form a government after her first attempt to forge an alliance with the pro-business Free Democrats (FDP) and the Greens failed.

Both the SPD and Merkel's conservative bloc want to raise investment in Germany, which has been without a government since an election in September that weakened both the conservatives and the SPD.

($1 = 0.8411 euros)

(Reporting by Georg Merziger; writing by Joseph Nasr; editing by Jason Neely)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, December 02 2017. 17:21 IST