Arab Today, arab today german growth to slow in 2012 government
Last Updated : GMT 16:49:39
Arab Today, arab today
Arab Today, arab today

German growth to slow in 2012: government

Arab Today, arab today

Arab Today, arab today German growth to slow in 2012: government

Berlin - AFP

The eurozone crisis will hit Germany hard next year with growth expected to be dramatically lower than previously thought, the government said on Thursday. Berlin said it expected growth of 1.0 percent next year in Europe\'s biggest economy, almost half the 1.8 percent forecast in April, as economic woes in the eurozone undercut activity in Germany\'s main trading partners. \"The rate of growth has, as expected, slowed somewhat,\" said Economy Minister Philipp Roesler. \"The reason for this slightly slower growth path is the risk from the international environment, which has increased significantly. \"With the higher uncertainty due to the debt crisis in several countries, global growth rates have cooled markedly,\" he added. While output growth this year is still relatively buoyant, at 2.9 percent, thanks to a very strong first quarter, the economy is poised to slow very sharply towards the end of this year and at the start of 2012. Germany\'s leading economic institutes last week forecast that growth would slow to almost zero in the fourth quarter of 2011 and the first quarter of 2012, with the economy only narrowly escaping a technical recession, defined as two consecutive quarters of contraction. However, Roesler dismissed this suggestion, stressing: \"There is no discussion of recession ... 1.0 percent growth is still growth. The trend is still upwards.\" And he drew attention to the fact that unemployment was still slated to decline next year, to an average rate of 6.7 percent, compared to 7.0 percent this year. The German economy suffered badly during the 2008 debt crisis, registering its worst recession in six decades, before rebounding strongly with 3.7-percent growth in 2010. But a spirit of optimism on the German economy has dissipated rapidly as the crisis refuses to go away and leading indicators are pointing to a bumpy road ahead. Investor sentiment hit a three-year low, according to the ZEW institute this week and business confidence is at its lowest level since June 2010. Industry appears to be slowing and retail sales have also hit the skids, suggesting the economy will not get significant impulses from domestic demand. For the moment, exports are holding up but analysts warn that this crucial motor for the German economy will also begin to splutter soon as a global slowdown hits demand for goods made in Germany. Roesler however sought to put a gloss on the figures, saying: \"The German economy is doing well ... it remains on a growth path. For Europe, we are still an anchor of stability and a growth motor,\" he said. \"We have come out of the crisis much faster than we thought or hoped,\" said the minister. Moreover, the future is bright, he said, forecasting average growth rates of 1.7 percent until 2016, above Germany\'s estimated potential growth of 1.4 percent.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today german growth to slow in 2012 government Arab Today, arab today german growth to slow in 2012 government

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today german growth to slow in 2012 government Arab Today, arab today german growth to slow in 2012 government

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israeli court convicts Palestinians of 2016

GMT 04:39 2017 Tuesday ,17 October

Israeli court convicts Palestinians of 2016
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday