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€ crisis despite economic recovery

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Die deutschen Maschinenbauer profitieren vom Export in die Schwellenländer. Quelle: ap

The German machine builders benefit from exports to emerging economies. Source: AP

HB BERLIN. The Institute of German Economy (IW) sees Germany on a "continuing course for recovery. "The Herausrobben from the valley happens more quickly than expected," IW director Michael Huether said on Monday in Berlin. In 2010, he expected 1.75 percent growth for 2011 even more than two percent. 47 percent of companies surveyed by the IW in the spring of 2010 with an expected higher production, only about 18 percent lower.

The impetus for Germany came largely on foreign trade and hence the industry, "added Huether. This is the "classic pattern" for Germany. The country was "well positioned" for the global demand. Price-adjusted German exports would grow by 7.25 percent in 2010 and 2011 at six percent. World trade will increase by eight percent in 2010, world growth would be four percent. That was the "dynamics as before the crisis," said Huether.

Unemployment is Hüther that only rise slightly to just under 3.4 million on average in 2010 and 3.4 million on average well 2011th At no point, but the mark was exceeded four million unemployed.

An exchange rate of € 1.22 to the dollar, for example, was not a problem for the German economy, he favors even exports, "added Huether. Ensure ready than the pace of decline. Otherwise he can not see any reason for a revaluation of the pound. The U.S. had structural problems as the debt of private households

Reasons for inflation expectations, he can not see well, "continued Huether. He expects 2010 and 2011 with only about one percent. If you open my big inflation scenario, the trust of the European Central Bank seems to be no inflation to fight. But you can reduce the money supply control, without the "interest club to grab," and this on the phasing out of support measures.