Germany Cuts GDP Outlook

Written April 29, 2009 at 6:16 AM EST by  

Germany cuts 2009 GDP view to -6% from -2.25% prior, as expected; Sees economy stabilizing later this year

- Sees 2010 GDP at 0.5%
- Sees 2009 exports lower by 18.8%; up 0.9% in 2010 period
- Sees 2010 Imports down 10.9%; up 0.4% in 2010
- 2009 Avg unemployment at 3.72M; climbing to 4.62M in 2010
- German 2009 CPI at 0.3%; 2010 at 0.7%
- Still opposes additional economic stimulus measures

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