Germany Raises Growth Forecast

The German government revised its 2011 growth outlook upping the projection to 2.3 percent growth from 1.8 percent. For the longer-term outlook, the prognosis calls for a decline to 1.8 percent for 2012.

“Germany’s economy achieved the comeback of the year in 2010,” noted Economy Minister Rainer Bruederle. “2011 will be a good year. The upswing has two stable legs: export and domestic demand.”

Source: The Canadian Press

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