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Business

Stronger German Recovery in 2006

Germany's economic recovery is likely to strengthen in the coming years as rising employment drives spending forward, strengthening export-led growth, the Organization for Economic Cooperation and Development said on Tuesday. German growth is predicted to amount to 1.7 percent this year, dipping to 1.2 percent in 2005 and then hitting 2.1 percent in 2006, which would then be the highest growth in six years. "Exports remain in the driving seat but domestic forces are gaining strength," OECD economist Eckhard Wurzel told a news conference in Berlin. The German government is counting on lower taxes and a reduction in unemployment benefit to push up growth. The euro's recent record highs against the dollar may however put a brake on Germany's exports, delaying the recovery.

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