Germany&#39;s 2004 Growth Outlook Raised
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Germany&#39;s leading economic institutes on Tuesday raised their growth forecast for the country this year to 1.8 percent, but predicted that the recovery in Europe&#39;s largest economy would slow next year amid slowing export growth and high oil prices.
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Investor confidence in Germany, Europe s largest economy, unexpectedly rose in December for the first time in five months as a drop in oil prices blunted the effect of the euro s surge against the dollar.
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It was the fastest pace of growth since records began for reunited Germany in 1991, according to official figures yesterday.
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German exports were booming in the first nine months of the year and are heading for record levels despite the strong euro, data released by the federal statistics office showed.
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German Finance Minister Hans Eichel hailed 2004 as a "good year" for having ended the virtual paralysis of his country's economy, and predicted further growth driven in part by domestic consumption.
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BERLIN Business confidence in Germany unexpectedly rose in December to its highest level in eight months, figures released on Friday showed.
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Australia&#39;s real gross domestic product (GDP) is projected to grow by about 3.75 percent in 2004 and medium-term prospects remain favorable, the International Monetary Fund (IMF) said Monday.
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BERLIN  - Germany experienced the strongest growth in four years in 2004, but weak consumer spending continued to hamper Europe's largest economy, the government statistics office said Thursday.
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German investor confidence rises in December after touching a 13-year low in November.
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German consumer confidence has risen unexpectedly before Christmas, figures from researchers GfK show.
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Germany's public deficit amounted to 4.0 percent of gross domestic product in the first six months of the current year, well above the EU limit of 3.0 percent, official data showed.
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German finance professionals grew sharply more pessimistic about the country's economic growth outlook, fearing that the euro's record highs against the U.S. dollar will weigh on exports, a monthly survey showed Tuesday.
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Industrial output in Germany rose by 1.9 percent in January, after edging up by 0.1 percent the previous month, data published by the German Economy and Technology Ministry showed on Thursday.
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Business confidence in Germany stayed just off an all-time high in May, as the outlook for the eurozone&#39;s biggest economy remained rosy, a key survey showed Thursday.
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In its latest Asian Development Outlook released today, the ADB said GDP growth projections for 2004 have been raised by about half a percentage point in both East Asia and Southeast Asia.
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German Finance Minister Hans Eichelsaid Thursday that the country's economy could grow more than 1.5 percent this year.
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Germany's leading economists Tuesday raised their growth forecast for the country to 1.8 percent for this year, but predicted that lower export growth and high oil prices will slow the just-begun recovery next year.