German economy recovering, Ifo economist says
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German economy recovering, Ifo economist says

Last Updated: Thursday, July 25, 2013, 19:39
 
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German economy recovering, Ifo economist says
Munich: Germany's economy is recovering after a poor six months and there is no sign it is suffering from weakness in other euro zone states or China, Ifo economist Klaus Wohlrabe told Reuters on Thursday.

"At the moment there is no indication that the economy in other euro zone countries is hitting German companies," he said, adding: "It is too early to sound the alarm" about weaker growth in China.

Earlier, the Ifo think tank said German business morale rose slightly more than expected in July, edging up for a third straight month.

Wohlrabe said he expected growth of 0.9 percent in the second quarter for Europe's biggest economy followed by 0.4 percent growth in the two subsequent quarters, giving 0.6 percent growth for the full year.

Reuters


First Published: Thursday, July 25, 2013, 19:39


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