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Germany's HWWI raises 2007 GDP growth forecast to 2.3 pct from 1.7 pct


Published : Thu, 12 Apr 2007 10:40
By : Agencies
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FRANKFURT (Thomson Financial) - The Hamburg Wirtschaftsforschungsinstitut (HWWI), one of Germany's six leading economic research institutes, said it is raising its 2007 GDP growth forecast to 2.3 pct from a previous forecast of 1.7 pct.

In 2008, the thinktank sees German growth increasing slightly to 2.4 pct.

Lower unemployment is expected to boost consumer spending, added HWWI in a written statement.

The average jobless rate is seen decreasing to 8.7 pct in 2007 and is forecast to dip further to 8.0 pct in 2008, added the report.

krysia.diver@thomson.com

kd/ic

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