Germany
Aufschwung wird schwächer, Prognose-Update: Deutsche Konjunktur zur Jahresmitte 2007
(Upswing is losing steam, Updated forecast: The German cycle in mid 2007)
IMK Report, No. 21, July 2007
Peter Hohlfeld
The current economic upswing in Germany will continue in the coming year — albeit at a significantly reduced pace. Whereas exports and capital formation are the key drivers of the economy in this year, in 2008, private final consumption expenditure will contribute most to GDP growth. Thus, the persistent consumption crisis will at last be overcome. GDP will increase by 2.6 % this year and by 1.9 % next year. In 2007 the number of unemployed persons is expected to decrease by 668,000 to an average of 3.82 million (unemployment rate: 8.8%). In 2008 only 3.42 million persons will be out of work (unemployment rate: 7.9 %).
Download the full report (in German):
http://www.boeckler.de/pdf/p_imk_report_21_2007.pdf
Data posted: July 2007.
Source:
IMK — The Macroeconomic Policy Institute (IMK) at the Hans-Boeckler-Foundation
Duesseldorf, Germany
web:http://www.imk-boeckler.de/
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