19-Oct-2010 7:42 AM

German economic growth may exceed 3% in 2010: Bundesbank

Germany's Bundesbank stated (12-Oct-2010) the German economy may grow faster than it previously forecast in 2010 as companies increase production to fill export orders and falling unemployment boosts consumer spending. The Bundesbank, which raised its 2010 growth forecast from 1.9% to 3% in Aug-2010 commented that that “real gross domestic product may increase more than 3% this year”. Bundesbank commented: "Foreign orders may have eased somewhat, but still-strong export expectations suggest manufacturers can increase production further in autumn." Domestic demand is also “increasingly aiding the economy”.

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