Bundesbank's expects Germany’s real gross domestic product (GDP) to grow by 1.7% 2015, 1.8% in 2016 and 1.5% in 2017. The expected increases are above the estimated growth rate in potential output of 1.2% per year, aggregate capacity utilisation should, according to the Bundesbank's experts, rise markedly and considerably exceed the normal level by the end of the forecast horizon. This means that labour market reserves will be mobilised and wages will rise strongly in the medium term.
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