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German economy will probably grow appreciably also in the second quarter, Commerzbank analyst Ralph Solveen said, citing the bank's Early Bird indicator.

The economist observed the environment remains very positive for the economy, despite some headwinds recently from the euro.

Apart from special factors such as the different situation of the Easter holidays, there is currently no reason why the German economy should not grow noticeably also in Q2, Solveen noted.

However, some more headwinds could arise in the coming months, if the euro should continues its current surge, hurting exports, the economist cautioned.

Solveen also drew attention to signs that the Chinese economy will revert to a slower pace. The analyst said this suggests that the global economic environment could also become cloudier in the coming months.

"Monetary policy, in contrast, will not change," Solveen said.

"In our view, an ECB rate hike is not to be expected next year either."

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