Saturday, April 25, 2009

Think tanks: Germany's economy to contract 6% this year

Think tanks: Germany's economy to contract 6% this year

Germany's economy is headed for a 6% decline this year that will push unemployment to more than 10% next year, according to research by eight think tanks working for the German Economy Ministry. Timo Klein, a spokesman for IHS Global Insight, said the joint forecasts offer a "very dark picture of German economic prospects in the foreseeable future

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