Germany raises Growth Forecast

Germany has raised its 2010 growth forecast to 1.4 per cent from a previous estimate of 1.2 per cent, the economy Ministry said on today, boosting hopes that recovery in Europe's largest economy is gathering pace.

The government sees exports rising 5.1 per cent in 2010 and supporting the recovery in Germany, which is heavily reliant on foreign trade for economic growth and was the world's biggest exporter of goods from 2003 to 2008.

"The German economy's strength lies now as before in competitiveness, product range, and presence in the world's growth markets," economy minister Rainer Bruederle told a news conference.

For more: Germany raises growth forecast - The Irish Times - Wed, Jan 27, 2010