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The German Federal Economy Ministry said on Thursday that the country's economy was slowly regaining its momentum after a contraction in summer months, although the recovery was still not very dynamic.
The ministry saw positive signals from robust domestic demands, rebounding exports and industry production as well as recovering business and investors' confidence.
"The labor market remains robust, employment growth continues. Private consumption will therefore continue to support domestic demand," said the ministry in a statement.
German exports increased by 4.9 percent in October and hit a record high of 103.9 billion euros (about 128.8 billion U.S. dollars). Industrial orders growth in October outpaced expectation. Morale of investors and the business also picked up in November.
The ministry said despite the external environment which "remained fragile", overall signals indicated a slow recovery in the German economy at the end of 2014. Weak euro and low oil prices were likely to boost growth in medium terms.
The German economy narrowly avoided a recession in the third quarter as the gross domestic product (GDP) increased meagerly by 0.1 percent following a decline of 0.1 percent in the second quarter.
Earlier on Thursday, Munich-based Ifo institute uplifted its forecast for German growth, citing falling oil prices and slump in euro exchange rate as forces to "pull the economy out of the state of shock induced by the outbreak of the Ukraine crisis."
The think tank now expected the German economy, driven mainly by private consumption, to expand by 1.5 percent in this year and the next.
