Germany seen lowering growth forecast
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Germany's economy minister said the government must lower its 2008 economic growth forecast, according to an interview released Wednesday.
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The Bundesbank is forecasting growth of 1.2 - 1.3 percent for the German economy next year, much less than the government's official forecast of 1.7 percent.
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Germany has again lowered its 2008 economic growth forecast and hatched a plan to fend off a possible global recession, Der Spiegel magazine reported in its issue to be released Monday.
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Germany's budget deficit for 2004 is expected to be far lower than forecast and fall below the record of 40 billion euros (52 billion dollars), a finance ministry spokesman revealed.
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German industrial production grew by a slight 0.1 percent in July, less than expected by analysts, following a drop of 0.2 percent in June, preliminary data corrected for seasonal variations showed on Friday.
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"Growth will slow down, due to increased global risk"  Germany's economy minister and a leading economic institute said Wednesday they expect 2008 growth to cool amid rising food and oil prices and fallout from the U.S. subprime mortgage loan crisis.Economy Minster Michael Glos was quoted by the mass-circulation Bild daily as saying the government was scaling back its forecast for 2008 to just under 2 percent. He did not give an exact figure.The Berlin-based DIW economic institute said it expected gross domestic product to expand by 2.1 percent in the coming year, following growth of at least 2.4 percent in 2007. Read more
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The German economy slowed in the final three months of 2007 after price rises led shoppers to cut spending
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The Germany economy will slow down this year in the wake of the global financial crisis, but should remain fundamentally solid, Finance Minister Peer Steinbrueck said Friday in an interview.
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Germany, the largest eurozone economy, lowered its 2008 growth forecast Thursday to 2.0 percent from 2.4 percent and its economy minister warned that fallout from a banking crisis could do more damage still.
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Germany&#39;s recovery slowed in the third quarter as exports slipped, with the economy growing by 0.1 percent from the previous three months, according to government figures released Thursday.
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German finance professionals&#39; growth expectations have dropped to their lowest level in 15 months amid fears that slowing global economic growth could hit Germany&#39;s export-driven recovery, according to a survey released Tuesday.
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Germany wants to lower targets laid out in the EU&#39;s Lisbon Agenda that aimed to provide Europe with the most competitive economy by 2010, governmental sources said here Wednesday.
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Germany's economy minister and a leading economic institute said Wednesday they expect 2008 growth to cool amid rising food and oil prices and fallout from the U.S. subprime mortgage loan crisis.
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German finance professionals&#39; growth expectations have dropped this month amid fears that soaring oil prices could slow the recovery of Europe&#39;s biggest economy, according to a survey released Tuesday.
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Business confidence in Germany, Europe's largest economy, falls to its lowest level in more than a year.
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The economy could be headed for slower growth in the next several months, according to a report released Thursday by a private research group.
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Growth of the German economy is set to halve in the fourth quarter of this year from third-quarter performance mainly because of a slowdown in the construction sector, a top economic think-tank has said.