Leading economic research institutes expect boom in the German economy

In Germany, the economy develops vigorously in 2012 and 2013, despite the economic crisis. Unemployment will fall, wages will rise, the deficit will be getting smaller – shows the joint forecast of the leading economic research institutes, published on Thursday.

On the basis of the spring forecast of six German, one Swiss, and one Austrian institute the largest economy of the European Union will leave behind the recent recession, that began late last year even in the spring. The gross domestic product (GDP) in 2012 will expand by 0.9 percent and 2 percent in 2013, especially due to expansion of private consumption and investments. (MTI)