German economy speeds up: leading institutes

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    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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