Germany's government has revised its 2013 economic outlook, expecting slower growth than predicted earlier, ahead of a strong rebound towards the end of 2013. It hopes faltering exports will be offset by domestic demand. Germany's economy would likely grow by 0.4 percent this year, the government in Berlin said Wednesday, as it cut its original 2013 growth prediction of 1 percent by more than half. A temporary weakness in the first few months would be overcome by a significant revival in the course of the remaining year, Economics Minister Philipp Rösler told journalists in Berlin. Rösler also said he expected a return to stronger growth in 2014, when economic activity in Germany would accelerate to an annual rate of 1.6 percent. On Tuesday, Germany's Federal Statistics Office released preliminary growth data for last year, showing that German gross domestic product (GDP) expanded by a feeble 0.7 percent in 2012, after notching up growth of 4.2 percent and 3.0 percent respectively in 2010 and 2011. Berlin hopes robust domestic demand will help Europe's biggest economy prevent a stronger decline, or even a recession, in 2013. "The labor market will remain stable at record employment levels, while wages will rise and inflation remains modest," Rösler said. However, 2013 foreign trade figures, he added, might turn out to be weaker next year as the recession in the eurozone would likely continue.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor