Germany to back on its feet
Germany, Europe's biggest economy, is poised to bounce back to growth next year following its worst recession in 60 years, the country's main economic institutes said on Thursday.
Output in 2010 should reach 1.2 percent, the group of institutes said in a closely-watched joint report, strongly revising up a previous projection of minus 0.5 percent made in April.
"In the autumn of 2009, the lowest point of the worst global recession since World War II appears to be behind us. Much points to an economic recovery," the institutes said in a press statement.
Greater stability on global financial markets, a brighter outlook for world trade and a rebound in Asia will likely help Germany, one of the world's leading exporters, recover relatively quickly from its slump, the report said.
The report came the day before the government is due to present its own economic forecasts, in which it too is expected to revise up its view following a strong bounce in Germany's economic fortunes.