Reuters: German economy to grow by well over one per cent from 2014

21 April 2013

German Economy Minister Philipp Rösler said that the German economy is picking up after contracting in the fourth quarter and will have a growth rate of "well over 1 per cent" in 2014.

The economy ministry has predicted Europe's largest economy will grow by 0.4 per cent this year and by 1.6 per cent next year. The German economy contracted by 0.6 per cent in the fourth quarter, but most economists expect it to escape recession by growing weakly in the first three months of 2013.

Germany's leading economic institutes said domestic demand would drive a 0.8 per cent expansion this year, which would more than double to 1.9 per cent in 2014 as exports picked up.

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