German 2010 growth strongest since unity: Official
The German economy likely had post-unification record growth in 2010 despite severe winter weather that curtailed activity in December, Economy Minister Rainer Bruederle said on Saturday.
January 02, 2011 / 12:17 IST
The German economy likely had post-unification record growth in 2010 despite severe winter weather that curtailed activity in December, Economy Minister Rainer Bruederle said on Saturday.
The government is forecasting 3.4 percent growth in 2010 -- equalling the strongest growth since German unification in 1990. The government had originally forecast growth of 1.4 percent in 2010 but raised that in October.Bruederle has been cited in German media reports saying the 2010 growth figure could be at least 3.6 percent. Germany posted a 3.4 percent growth rate in 2006 -- the strongest since 1990."Despite the harsh winter we can assume we'll have a record growth in 2010," Bruederle said, referring to cold weather and heavy snow in December. "The most recent export data are a further indication of the strength."But Bruederle did not mention either figure -- 3.4 percent or 3.6 percent -- in his statement on Saturday.Bruederle said he was confident the strong upturn, which followed a 4.7 percent contraction in 2009, would continue into 2011."What's more important is that we proved last year what we can do when it counts," he added. "That's why we've got every reason to be optimistic about the year 2011. If we roll up our sleeves, we can come a step closer to full employment." Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
