German government sees falling consumer spending in 2010

Exports are expected to rise in 2010, as will imports, the government says, but consumer spending will fall 0.5%, the German government says. That’s no way to spur recovery…

Exports are expected to rise 5.1% this year after falling 14.7% in 2009, they say. Imports will rise 3.4% after falling 8.9% ast year, they forecast.

A broad credit crunch or an abrupt dollar drop are the main risks to the outlook, the Government draft says.