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The German Chambers of Commerce (DIHK) upgraded its growth forecast for Germany on Tuesday. The DIHK expects the German economy to expand 1.5% this year, up from the previous estimate of 1.3%, but lower than the government's forecast of a 1.7% growth. DIHK's managing director Martin Wansleben said on Tuesday that the economy would be driven by construction and consumption, adding that low oil prices and cheap borrowing costs would also support the economic growth.
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