The German economy will be more resilient in 2018 and 2019

Moody's credit rating on the German economy was as follows:

• Germany’s credit profile reflects its economic strength, effective policies and robust public finance.
• The fact that large-scale and domestically driven growth provides high resilience to short-term economic shocks.
• The German economy is likely not affected by the political uncertainty that followed the parliamentary elections last year.
• The German economy is expected to perform well in the near term.