2009 German economy worse since WWII
The government forecasts a 2.25 percent downturn much lower than the previous prediction of 0.2% growth, made in October.
Exports will drop by a predicted 8.9% this year and the jobless rate would climb to an average of 8.4% in 2009, from 7.8% in 2008.
"The German economy is facing this year the greatest challenges since unification [in 1990]. Germany is integrated into the global economy like hardly any other industrialised country," said Germany's economy minister Michael Glos.
BBC News | German economy faces gloomy 2009 BBC News - 2 hours ago Germany has predicted that its economy will shrink by 2.25% in 2009, which would be its worst performance in the post-World War II era. Germany forecasts worst recession since World War II AFP Germany Cuts Economic Outlook Wall Street Journal |
Labels: germany, michael glos, recession, world war II