German consumption is expected to grow significantly

In Germany, the growth of public spending is expected to be threefold this year, compared to last year – shows the forecast of the GfK German market researcher.

According to GfK; retail spendings will increase by 1.5 percent, after last year’s rise of 0.5 percent. Klaus Wübbenhorst, head of the institute told that internal consumption has an increasingly important role in the strengthening of the German economy. The German retail spendings are 1.5 trillion euros, about 60 percent of the country's GDP – reports MTI.