The German government is about to present an upbeat outlook for the economy, predicting GDP growth of 1.4 percent and unemployment of 3.4 million in 2010, virtually unchanged from 2009, according to the draft of its latest forecast seen by SPIEGEL. Four months ago it had predicted the jobless total would reach 3.7 million this year.
The German government expects the economy to grow by 1.4 percent in 2010 and 1.6 percent in 2011, according to the latest forecast, SPIEGEL has learned.
The government is particularly upbeat on unemployment, predicting that the jobless total will rise by just 10,000 this year, according to the draft of the government's spring economic forecast due to be presented on Wednesday by Economy Minister Rainer Brüderle.
Average unemployment for 2010 is expected to remain at 3.4 million, or 8.2 percent, unchanged from 2009. That is a significant improvement from the government's prediction at the start of 2010 that unemployment would rise to 3.7 million this year. The government expects unemployment to remain at 3.4 million in 2011.
The government's forecast for tax revenues is higher than four months ago as a result of the expected economic growth and stable jobs market.
The government's 2010 GDP forecast is slightly less optimistic than that of Germany's leading economic research institutes which expect 1.5 percent growth this year. But its 2011 outlook of 1.6 percent is more upbeat than the institutes' prediction of 1.4 percent.
Monday, April 26, 2010
German Government More Upbeat on Jobs Market - -
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