Leading German economics institutes said GDP is set to contract 6%

Discussion in 'Economics' started by ASusilovic, Apr 23, 2009.

  1. BERLIN, April 22 (Reuters) - Leading economic institutes expect the Germany economy to contract by 6 percent this year and by 0.5 percent next year, sources familiar with the projections told Reuters on Wednesday.

    The sources also said the institute, which officially present their latest forecasts on Thursday, expect unemployement to rise to an average of 3.7 million this year and to an average of 4.7 milion in 2010.

    (Reporting by Andreas Moeser and Klaus Lauer)

    (madeline.chambers@reuters.com; +49 30 2888 5230; Reuters Messaging: ann.chambers.reuters.net@reuters.com)