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Germany to avoid recession in 2013: Employer association head

Published on Dec 30, 2012 8:05 PM
 
Dieter Hundt (left), head of Confederation of German Employers' Association (BDA) talks to German Chancellor Angela Merkel after her speech at the BDA annual meeting in Berlin on Oct 16, 2012. Germany will avoid recession in 2013 and achieve growth rates similar to 2012, Hundt said in an interview. -- PHOTO: REUTERS

BERLIN (REUTERS) - Germany will avoid recession in 2013 and achieve growth rates similar to 2012, Dieter Hundt, leader of Germany's employer association, said in an interview.

"I'm expecting that we won't experience recession in Germany next year and the economy will once again grow at similar levels as this year," Hundt said.

The German economy has so far managed to fend off the euro zone's troubles, expanding by 4.2 per cent in 2010 and 3 percent last year.

The country's gross domestic product in 2012 is expected to grow by about 0.9 percent. In 2013, private economists have forecast GDP to increase by about 0.7 per cent, down from mid-2012 predictions of 1.3 per cent.

 
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