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| Europe |
| Germany raises growth forecast to 3% |
| 2010-09-05 |
| [Iran Press] A stronger than expected recovery has encouraged Germany to lift this year's growth forecast from the previous 1.4 percent to 3.0 percent. How's the American recovery working out, Champ? Germany expects an improvement in the job market with the number of unemployed dropping below three million, according to a report published in the German daily Neue Osnabrucker Zeitung on Saturday. In August, the number of unemployed stood at 3.19 million, or 7.6 percent. In April, Berlin didn't change its 1.4 percent growth forecast, but last month revised it to about 3.0 percent, up from 1.9 percent, the report added. The euro zone's top economy recorded growth of 2.2 percent in the second quarter, the highest growth since reunification in 1990. Meanwhile, on Wednesday Chancellor Angela Merkel's cabinet approved budget cuts of around 80 billion euros, which critics say may hit |
| Posted by:Fred |
| #2 Well, at least Germany didn't have to deal with the Big Crash in their banking system after all the TARP money that flowed across the Atlantic to cover their |
| Posted by: Procopius2k 2010-09-05 10:09 |
| #1 ... approved budget cuts... ... The measures in the plan include a new tax... Bangs head |
| Posted by: European Conservative 2010-09-05 09:49 |