Germany

Cristina Balgar

Conjunctura economiei mondiale / World Economic Studies, 2011

Abstract: According to the unanimous opinion of international economic analysts who have examined over the recent years the causes, the range and the negative effects of the global economic and financial crisis on world economies, the unprecedented decrease of economic growth in 2009 was mainly caused by the reduction of worldwide demand, which deeply affected the German economy whose development pattern is predominantly export-oriented. One year later, in 2010, the recovery of the global economic environment and the revival of international trade determined a relaunch of the productive and investment activity. These external drivers, correlated with the economic policy measures applied by means of programmes for economic stabilisation and support and for domestic consumption stimulation led to a much more dynamic economic activity than the experts had previously estimated, with Germany regaining its title of “economic engine†of the European Union which it had held prior to the crisis. The estimates for 2011 see a slight attenuation of the worldwide growth pace, which will also “temper†the overall evolution of the German economy. The present paper aims to analyse the main drivers of economic growth in Germany in 2010 and furthermore to review the relevant international forecasts of economic activity in 2011.

Keywords: Germany; GDP; economic outlook; factors affecting economic growth and development; perspectives on economic growth (search for similar items in EconPapers)
JEL-codes: E E6 F F1 F4 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:iem:conjun:y:2011:id:2822000009569007

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