German Govt Cuts 2009 GDP View To -6%; 2010 Recovery

Apr 29th, 2009 - Wall Street Journal

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BERLIN (Dow Jones)--The German government Wednesday sharply revised its forecast for the economy this year to a 6.0% contraction from a 2.25% decline expected previously, saying the economy is going through its worst recession since World War II but will recover mildly in 2010.

The German government said in its spring projections that fiscal stimulus and private consumption will help support Europe's largest economy, which is likely to grow 0.5% in 2010.

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