03 July 2012 18:27 [Source: ICIS news]
LONDON (ICIS)--The International Monetary Fund (IMF) sees looming risks to ?xml:namespace>
The IMF said that
At the same time,
“The main risk facing
“Lower global growth prospects more broadly would also hamper growth prospects in
The country’s wages are rising, the unemployment rate - at 5.3% - is low, and inflation expectations are moderate.
“With rising household income and stable employment, strong balance sheets among households and firms, and a supportive financing environment, both consumption and investment, including residential investment, are expected to gather pace and propel growth [by the second half of 2012],” it said.
Meanwhile, foreign demand is expected to contribute significantly less to Germany's GDP growth in 2012 and 2013, compared with previous years.
Broad downside risks for
“Given Germany’s direct trade linkages, particularly with the US and Asia, an unanticipated slowdown in activity would directly lower the demand for Germany’s exports, in addition to the indirect linkages through other euro area trading partners,” the IMF said.
In addition, a sharp rise in oil prices due to geo-political factors would depress German aggregate demand and put upward pressures on prices, it added.
The IMF projects
In a related report on Tuesday, the IMF said that the
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