BERLIN (MNI) – The weak phase that the German economy is currently
going through will be only temporary, the German Economics Ministry said
in its latest monthly report released Friday.
“After the expansion of economic activity in the first three
quarters of 2012, a temporary weaker trend for the winter half-year is
becoming apparent,” the ministry said. It expects slowing investments
and a declining growth contribution from foreign trade.
In the third quarter, German GDP likely grew “slightly,” the
ministry said.
“The risks are still significant,” the report noted. “However, one
can expect that the phase of weakness will be temporary.”
Domestic upward forces are still supporting private consumption,
the ministry argued. Moreover, the export sector will profit from a pick
up of the global economy in the course of 2013, it reckoned.
“Furthermore, monetary policy is still stimulating” the economy, the
report noted.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@mni-news.com
[TOPICS: M$X$$$,MGX$$$,M$$CR$,M$G$$$,MT$$$$]
