German Growth Outlook Not Good_经济Business
workers are accepting pay cuts to keep their jobs[photo]
germany’s six top economic institutes have cut their economic growth forecasts for this year in half.
they are now predicting the german economy will grow by just 0.7%, compared with their earlier predictions of 1.5%.
chancellor gerhard schroeder has said the new forecasts are "not good".
exports are being curbed by the strong euro, oil prices are hurting business and domestic demand remains stubbornly slack , the six think tanks said.
weak growth is likely to intensify the problems facing chancellor schroeder’s centre-left government as it battles to prune state spending at a time of record post-war unemployment.
five million germans were out of work last month, giving a jobless rate of 12%, compared with about 5% in the uk and the us.
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germany’s six top economic institutes have cut their economic growth forecasts for this year in half.
they are now predicting the german economy will grow by just 0.7%, compared with their earlier predictions of 1.5%.
chancellor gerhard schroeder has said the new forecasts are "not good".
exports are being curbed by the strong euro, oil prices are hurting business and domestic demand remains stubbornly slack , the six think tanks said.
weak growth is likely to intensify the problems facing chancellor schroeder’s centre-left government as it battles to prune state spending at a time of record post-war unemployment.
five million germans were out of work last month, giving a jobless rate of 12%, compared with about 5% in the uk and the us.
learn more from this article