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Business

Government nudges economic growth forecast higher in Germany

The German government has revised its growth forecast for the national economy in 2011, raising it half a percent from its prediction in October. In 2010, the German economy grew at the fastest pace since reunification.

A climbing graph set on the German flag

2011 is predicted to be a good year for Germany

The German government has raised its growth forecast for the national economy this year to 2.3 percent, an upward revision from the 1.8 percent it predicted in October.

"2011 will be a good year, too," said Rainer Brüderle in Berlin as he presented the latest numbers.

If the forecast holds, it would represent a reduction in the growth of the German economy compared to 2010. But last year was a banner year for Germany as it pulled itself out of the global recession. Figures released last week showed that Germany's economy expanded by 3.6 percent in 2010, the fastest pace since reunification twenty years ago.

The prediction for 2011 would also indicate the German economy had returned to its pre-recession levels.

The government says it also expects that unemployment will sink to 7 percent compared to 7.7 percent last year. That would mean fewer than 3 million unemployed people in Germany.

Author: Matt Zuvela (dapd, dpa)
Editor: Michael Lawton

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