German economy expected to cool in 2008
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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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In its autumn report the OECD said it expected Swiss gross domestic product (GDP) to grow by 2.0 per cent this year. But it has cut its outlook for Switzerland to 1.9 per cent from 2.3 per cent.
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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 economy unexpectedly shrank in the final quarter of last year, dealing a blow to euro zone recovery hopes, preliminary German Federal Statistics Office data shows.
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German business confidence dropped in August, reflecting concerns about economic recovery in the country, a survey made by a leading economic institute showed Thursday.
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German inflation looks set to remain more or less stable this month, regional consumer price data showed on Friday.
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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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The German government says surging oil prices are on track to trim economic growth by 0.25% this year.
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BERLIN - German investor confidence dropped sharply in September, a key economic indicator released Tuesday showed amid concerns about the impact of high oil prices on consumer demand and the outlook for the global economy.
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Spring appeared to be in the air for the German economy on Wednesday, with data showing inflation tame, despite the VAT sales tax rise, and unemployment unusually lower in February.
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Business confidence in Germany, Europe&#39;s largest economy, probably declined to a four-month low in October amid signs that both export orders and consumer spending are slowing, a survey of economists showed.
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Germany, the world's third-biggest economy, can no longer rely on exports to fuel domestic spending, prompting economists to cut their growth forecasts for next year to as low as 1 per cent.
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Business confidence in Germany slipped for the sixth month in October, as companies in the eurozone's biggest economy took a dimmer view of the six-month outlook, a survey showed Thursday.
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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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FRANKFURT  - The modest recovery of the German economy ran out of steam in the third quarter, official data showed, as exports, previously the main driving force behind growth of the eurozone&#39;s biggest economy, slumped on the back of the global
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The German economy shrank by 0.2 percent in the last three months of 2004, a preliminary estimate by the federal statistics office, Destatis, shows, confirming a slowdown in activity in the eurozone's biggest economy in the second half of last year.
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Some say 2008 will be a bust, but there is good reason to think the year, in total, will be fine.