January 27, 2014 / 9:30 AM / in 4 years

Emerging markets FX turmoil a medium-term risk for Germany - Ifo

BERLIN, Jan 27 (Reuters) - Turmoil in emerging market foreign exchange rates is not affecting Germany’s economy yet but does pose a medium-term risk, Ifo economist Klaus Wohlrabe told Reuters on Monday.

“It represents a medium-term risk that one should keep an eye on but the turmoil is not yet reflected in order books,” he said.

He also said Germany, Europe’s largest economy is set to grow by 0.5 percent in the January-March period even if euro zone peers will only give a boost in the second half of the year.

The Munich-based Ifo think tank’s business climate index climbed in January to 110.6, its highest level since July 2011, suggesting Europe’s largest economy is on track for a strong start to 2014 after growing only modestly last year.

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