24 May 2011 19:41 [Source: ICIS news]
Philipp Rosler, who took over as economics minister from Rainer Bruderle this month, said Germany’s first-quarter GDP beat - for the first time - its pre-crisis level from early 2008.
Following eight consecutive quarters of sequential growth,
He noted, in particular, strong German domestic demand.
In related news on Tuesday, Cologne-based Institute for the German Economy (IW) said
IW’s forecast compares with a recent consensus on a 2.8%-growth forecast for 2011 by eight German economics institutes.
Also on Tuesday, Munich-based Ifo institute said its business confidence index for
Economists polled by a news organisation had expected a decline. The Ifo index is based on about 7,000 monthly survey responses from firms in manufacturing, construction, wholesaling and retailing.
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