FRANKFURT (MNI) – Germany’s leading economic institutes expect the
country’s economy to grow by 1.5% this year and 1.4% in 2011, German
business daily Handelsblatt reported Tuesday.
Citing sources familiar with the information, the paper reported
that the institutes will raise their GDP forecast for this year from the
+1.2% predicted in the autumn.
The institutes will present their outlook to German Economy
Minister Rainer Bruederle on Thursday. The government currently is
predicting growth of 1.4% for this year; it will issue new forecasts
next Wednesday.
As in the past, these will be closely aligned with the assessement
of the top institutes, sources close to the German government told the
paper.
The European Commission last month warned that Germany’s growth
forecast of 1.4% for this year was too optimistic. The OECD is
predicting German GDP growth at 1.3% this year.
–Frankfurt bureau; +49-69-720142; frankfurt@marketnews.com
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