Booming economy to hit pre-crisis levels

Booming economy to hit pre-crisis levels
Photo: DPA
Germany’s booming economy is likely to this month reach a level last seen before the 2008 global financial crisis, the Financial Times Deutschland reported on Tuesday.

With it’s export-led industry currently firing on all cylinders, total economic output will top €576 billion, according to a survey of leading economists.

“German Gross Domestic Product (GDP) might have already hit or slightly surpassed the level from the first quarter of 2008 in April,” Carsten-Patrick Meier from research institute Kiel Economics told the FTD.

Only a few months ago, no one was expecting Germany to rebound with such vigour.

Even the most optimistic economic forecast predicted it would take until the end of 2011 to complete recover from the worse global recession since the Great Depression.

But the German government hiked its 2011 growth projection last month to 2.6 percent from the 2.3 percent expected at the beginning of the year.

DAPD/The Local/mry

Jobs in Germany

Member comments

Become a Member to leave a comment.Or login here.