Germany To Slash 2012 Growth Estimate To 0.75% Of GDP - Report
First Published Friday, 13th January 2012 01:16 am - © 2012 Dow Jones
BERLIN -(Dow Jones)- Germany's government will next week lower its 2012 economic growth estimate to around 0.75%, following weak fourth-quarter gross domestic product data, Handelsblatt newspaper says in a pre-release of its Friday edition, citing government sources.
Europe's biggest economy probably contracted by around 0.25% of GDP in the fourth quarter of last year, the government's statistics office said Wednesday, but growth for the whole of 2011 still steamed ahead at a rate of 3%.
In October, the government still forecast GDP to rise 1% in 2012.
Economics Minister Philipp Roesler will Wednesday present the government's updated growth estimate.
The economics ministry will continue to carry out calculations for the growth estimate next week, a ministry spokeswoman told Dow Jones Newswires Thursday.
Newspaper website: http://www.handelsblatt.de
-Berlin Bureau, Dow Jones Newswires; 49-30-2888-410.