German GDP growth forecast at 3.5% in 2010; 2% in 2011

Germany's eight leading financial institutes forecast the German economy would expand more than twice the pace previously projected this year as consumers increase spending (Bloomberg, 14-Oct-2010). GDP is forecast to rise 3.5% in 2010 and 2% in 2011, with the previous forecast in Apr-2010 was for expansion of 1.5% and 1.4%, respectively.