Experts predicting further prosperity for Germany's economy

Leading German institutes have painted a promising picture for Germany's economy this year and next. 

Economic think tanks DIW, Ifo, IfW, IWH and RWI have published a joint report that predicts record budget surpluses for the Europe powerhouse.

Increased domestic consumption has led to an expected growth rate of 1.9% for the remainder of 2017 and then a further 2.0% in 2018, an increase on their projections from earlier in the year.

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"The strong global economy and especially the continuing upturn in the eurozone are stimulating exports," quoted the report, released on Thursday.

The job market is also expected to improve further, with the think tanks predicting that the number of people in work will grow faster than the rate at which unemployment would decrease.

The unemployment figures are expected to drop from the current 5.7% level to 5.2% by the end of 2019, with state coffers expected to grow up to €44bn in the same time frame.