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BERLIN, April 7 (Xinhua) -- German economy will increase 2.8 percent in 2011, according to a joint1 report issued by Germany's leading economic institutes on Thursday.
The expectation was much better than the 2 percent increase for 2011 in the prediction(预言预报) of last year. It is also higher than the government's forecast of 2.3 percent. The growth rate will slide to 2 percent in 2012, the report said.
The strong increase was driven both by external demand and by domestic consumption, the report said.
The report used the word "buoyant" to describe the world economy this year and attributed the main engine to the emerging economies.
Private consumption in Germany is expected to rise 1.2 percent this year and next, much higher than the 0.4 percent increase last year, due to the continuing improvements in job markets since last year.
Unemployment people in Germany have been reduced to its lowest level since the reunification due to the strong economic rebound2 last year.
In 2011, 300,000 new jobs are expected to be created and the unemployment rates will be reduced to 6.9 percent this year and 6. 5 percent in 2012.
Driven by the good economic outlook, German government's financial status is also expected to witness obvious improvements this year and next, with government's deficit3 narrowed to 1.7 percent of GDP this year and 0.9 percent in 2012.
The report also said at present the world economy has not been seriously affected4 by the turmoil5 in the Arab world and the big earthquake, Tsunami6 and on-going nuclear crisis in Japan, but their future developments are still worrying.
The institutes include the Institute for Economic Research in Halle (IWH), The Munich-based Institute for Economic Research (Ifo) , the Kiel-based Global Economy Institute (IfW) and the Essen- based Rhineland-Westphalia Institute (RWI).(本文由在线英语听力室整理编辑)
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1 joint | |
adj.联合的,共同的;n.关节,接合处;v.连接,贴合 | |
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2 rebound | |
v.弹回;n.弹回,跳回 | |
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3 deficit | |
n.亏空,亏损;赤字,逆差 | |
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4 affected | |
adj.不自然的,假装的 | |
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5 turmoil | |
n.骚乱,混乱,动乱 | |
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6 tsunami | |
n.海啸 | |
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