BERLIN (MNI) – The German Industry Association (BDI) still expects
that the country’s GDP will grow by 2% this year, German daily Die Welt
reported Monday, citing the BDI’s latest economic report.
“The current new order and production numbers signal that the
upswing has markedly gained momentum,” the BDI asserted according to the
newspaper.
The BDI believes it is unlikely that the country will slip back
into recession, Die Welt wrote. The gradual phasing out of economic
stimulus measures will not markedly affect the recovery process, the
association argued, pointing to a pick up of foreign trade and
investment spending.
The BDI’s projections are similar to those of the country’s
Economics Ministry, Rainer Bruederle, who said in an interview published
over the weekend that German GDP could grow this year by as much as 2%,
markedly above the +1.4% previously forecast by the government.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
[TOPICS: MGX$$$,M$X$$$,M$G$$$]
