BERLIN, Oct 11 (Reuters) - Germany's leading economic institutes expect the German economy to grow by 0.2 percent next year, a source familiar with the data told Reuters on Saturday.
The source, speaking on condition of anonymity, confirmed a figure earlier published by weekly magazine Der Spiegel.
The institutes' latest forecasts are due to be published on Tuesday, one day before the government is also expected to cut its growth prediction for 2009 to below 0.5 percent.
Concerns about the outlook for Germany have increased as global turmoil in the financial sector threatens to spill over into other sectors of the economy.
The think tanks, which compile their report in cooperation with leading research institutes from Austria and Switzerland, have also predicted that unemployment will rise in 2009, the magazine said.
The government has forecast the economy will expand by 1.7 percent in 2008, and had hitherto seen growth of 1.2 percent for next year, when Chancellor Angela Merkel is seeking re-election.
(Writing by Dave Graham, editing by Mike Peacock) Keywords: GERMANY GROWTH/INSTITUTES tf.TFN-Europe_newsdesk@thomson.com ak COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
The source, speaking on condition of anonymity, confirmed a figure earlier published by weekly magazine Der Spiegel.
The institutes' latest forecasts are due to be published on Tuesday, one day before the government is also expected to cut its growth prediction for 2009 to below 0.5 percent.
Concerns about the outlook for Germany have increased as global turmoil in the financial sector threatens to spill over into other sectors of the economy.
The think tanks, which compile their report in cooperation with leading research institutes from Austria and Switzerland, have also predicted that unemployment will rise in 2009, the magazine said.
The government has forecast the economy will expand by 1.7 percent in 2008, and had hitherto seen growth of 1.2 percent for next year, when Chancellor Angela Merkel is seeking re-election.
(Writing by Dave Graham, editing by Mike Peacock) Keywords: GERMANY GROWTH/INSTITUTES tf.TFN-Europe_newsdesk@thomson.com ak COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.