Wednesday, January 21, 2009

2009 German economy worse since WWII

Germany's economy will dip lower in 2009 than at any time since World War II, the government predicted today.

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

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