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Europe Update: Germany Projects Economic Slowdown
Germany’s Economic Ministry projects economic growth will slow this year and next. The government has cut its forecast for 2012 GDP growth to +0.7% from the prior estimate of +1.0%.
The latest forecast suggests the growth rate for 2013 will be +1.6%.
The good news is that the projected growth rates for both 2012 and 2013 are positive. Recall that most economists are looking for recessions in many of the Eurozone countries.
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