The German gross domestic product (GDP) could increase by as much as three percent in 2010, according to estimates from some government officials after positive quarterly data sparked optimism regarding the recovery of the largest European economy, reports the local newspaper Die Welt on Sunday.
Data from Eurostat released on Friday showed that the German economy grew by 2.2 percent in the second quarter of this year compared to the previous quarter, which is a much stronger growth than expected and the strongest on a quarterly basis since reunification in 1990. Germany is recovering quite strongly from the recession that hit the country in 2009, when it recorded nearly a 5 percent decline in economic activity. "Even if the economy stagnated in the next three months and growth fell to zero, we could still expect growth of three percent or more by the end of the year," said an unnamed source from the German Ministry of Economy, as further reported by Die Welt. In its official projections for this year, the German government still expects growth of 1.4 percent. (H)
