Author Topic: Future of Germany's Economy (Read 1252 times)

MikeLigalig.com · « **on:** April 23, 2009, 09:58:59 PM »

Germany's economy will shrink by 6% this year and continue to contract in 2010 according to a forecast from the country's leading economic think tanks.

The estimates, compiled by eight institutes for the German Economy Ministry, also predicts that the rate of unemployment will hit 10% next year.

The gloomy forecast chimes with that of the IMF, which shows the German economy contracting by 5.6% this year.

This is faster than any other major economy apart from Japan, says the IMF.

"The joint forecast of the institutes paints a very dark picture of German economic prospects in the foreseeable future," said Timo Klein at IHS Global Insight. - BBC News

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benelynne · « **Reply #1 on:** April 23, 2009, 10:28:34 PM »

IMF forecast for Japan:

The IMF trimmed Japan's growth projection in terms of real gross domestic product to minus 6.2 percent for 2009, down 0.4 percentage point from its prior forecast released in mid-March, and marking the worst projection among major industrialized nations.

"In Japan, the downturn is exceptionally severe, and is being driven largely by trade, which has been hit hard because of the economy's heavy reliance on manufacturing exports, and by spillovers to domestic investment," it said.

"The yen's strength and tighter credit conditions more generally have added to the problems of the export sector. Mild deflation is expected to persist at least through 2010."

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Lorenzo · « **Reply #2 on:** April 23, 2009, 10:30:47 PM »

Germany's economy will shrink by 6% this year and continue to contract in 2010 according to a forecast from the country's leading economic think tanks.

The estimates, compiled by eight institutes for the German Economy Ministry, also predicts that the rate of unemployment will hit 10% next year.

The gloomy forecast chimes with that of the IMF, which shows the German economy contracting by 5.6% this year.

This is faster than any other major economy apart from Japan, says the IMF.

"The joint forecast of the institutes paints a very dark picture of German economic prospects in the foreseeable future," said Timo Klein at IHS Global Insight. - BBC News

This is very sad to hear.

Even our Euro partners are suffering. Germany, the EU's economic machine, is really hard-hit.

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Keko · « **Reply #3 on:** April 24, 2009, 12:14:42 AM »

Well, every europeanÂ´s country economy is shrinking

One more abrupt like Germany other less, but itÂ´s just normal. The economy has times of grow and times of shrink. It cannot grow forever without a crisis time.

Just wait to better times and hope everything go back to normal in all the world asap, but seems not till at least 2010.

Regards

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MikeLigalig.com

Author Topic: Future of Germany's Economy (Read 1252 times)

MikeLigalig.com

Future of Germany's Economy

benelynne

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Lorenzo

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Keko

Re: Future of Germany's Economy