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*DJ Germany's IfW Sees '07 GDP Growth At 2.1% Vs 2.6% In '06 12/12/2006 Dow Jones News Services (Copyright © 2006 Dow Jones & Company, Inc.) (MORE TO FOLLOW) Dow Jones Newswires 12-12-06 0500ET Copyright (c) 2006 Dow Jones & Company, Inc. *DJ Germany's IfW Forecasts 2008 GDP Growth At 1.8% (MORE TO FOLLOW) Dow Jones Newswires 12-12-06 0500ET Copyright (c) 2006 Dow Jones & Company, Inc. *DJ German IfW Sees ECB Raising Rates 25 BPs In Spring 2007 (MORE TO FOLLOW) Dow Jones Newswires 12-12-06 0500ET Copyright (c) 2006 Dow Jones & Company, Inc. DJ Germany's IfW Sees 07 GDP Growth At 2.1% Vs 2.6% In 06 BERLIN (Dow Jones)--The German economy is in a strong upswing which should continue next year despite tax hikes, as domestic demand should remain strong, one of Germany's main economic think tanks said Tuesday. The Kiel-based IfW institute Tuesday raised its growth forecasts, predicting German gross domestic product growth of 2.6% for this year and 2.1% for next year. For 2008, it forecasts real GDP growth of 1.8%. In October, IfW together with Germany's other five leading institutes' forecast 1.8% growth for this year and 1.4% for 2007 as part of their joint autumn outlook report. In its last individual forecast in August, IfW forecast growth of 2.4% for this year and 1.0% for next. "Today, we assume the risks of Germany's economy entering a phase of weakness are clearly smaller than three months ago," IfW said in its latest report. Tax increases, fewer incentives from monetary policy and slower export growth due to a weaker global economy will burden the economy, but "from today's point of view, the (growth dynamic) of the domestic economy is so high that we can assume a further rise in the overall capacity utilization." The think tank said companies expect the scheduled value-added tax increase to 19% from 16% to dampen the economy next year but said they expect a further upward movement later, without providing specifics. Lower energy prices will also help boost domestic demand, IfW said. Exports are forecast to rise 13% this year, 6.6% in 2007 and 4.5% in 2008. In its forecast, the institute also warned against excessive wage increases. "The upswing will be longer and stronger and unemployment will fall more if wage agreements rise only as little as they have done over the previous three years," IfW said. Turning to the monetary policy in the euro zone, the think tank said it expects the European Central Bank to raise its key lending rate 25 basis points to 3.75% in spring 2007, then leaving interest rates on hold until the end of 2008. IfW forecasts a public sector deficit of 1.9% of GDP in 2006 and 1.2% in 2007 and 1.3% of GDP in 2008. |
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| aus der Diskussion: | Nie mehr wieder 6000 Punkte im Dax? |
| Autor (Datum des Eintrages): | nachtschatten (12.12.06 11:33:48) |
| Beitrag: | 116 von 157 (ID:26121006) |
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