The Bundesbank said in its monthly report on Monday that there is no risk of a drop in the global economy.

"A noticeable easing in economic growth or even a slump in the global economy, as has been expressed in the public debate about developments in some emerging markets, is not apparent," the Bundesbank said.

The Bundesbank noted that the slowdown in the global economy this year was driven by a weak economy in commodity-producing countries as commodity prices slid.

The German economy is expected to expand moderately, driven by consumer demand.