German 5 institutes hike 2007 GDP growth forecast to 2.4 pct - report |
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Wed, 18 Apr 2007 10:24
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FRANKFURT (Thomson Financial) - Germany's five leading economic institutes have raised their forecast for the country's GDP growth this year to 2.4 pct from 1.4 pct, Financial Times Deutschland reported, citing a copy of the annual Spring Report to be presented tomorrow.They also expect the economy to grow 2.4 pct in 2008, the newspaper said in its online edition.'The economic recovery in Germany continued after New Year's 2007,' the institutes said in the study, according to FT Deutschland.'But the speed of the recovery slowed a bit.'The number of German jobless will decline this year and next year, with the jobless rate falling to 8.7 pct in 2007 and to 8.0 pct in 2008, the newspaper cited the institutes as saying.Meanwhile, inflation will be up 1.8 pct both in 2007 and 2008, compared with a previous 2007 forecast of 2.3 pct.The German government will reduce the nation's budget deficit to nil next year, from 0.6 pct of GDP this year, it said.The five institutes are the Deutsche Institut fuer Wirtschaftsforschung (DIW), the Kieler Institut fuer Weltwirtschaft, the Rheinisch-Westfaelische Institut fuer Wirtschaftsforschung (RWI), the Institut fuer Wirtschaftsforschung Halle (IWH) and the Institut fuer Wirtschaftsforschung (IFO).maria.sheahan@thomson.commas/ambCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Ifo, Insee, Isae see euro zone growth 0.5 pct in Q1, 0.6 in Q2, 0.6 in Q3 UPDATE 