German economy to increase 3.5 percent in 2010

Eight economic institutes selected by the German government together issued their two-year report, saying, "German economy is on an upward track to make up for the fall in production caused by the crisis."

Growth is expected to slow down due to the cooling of global economy, but it is still healthy, and domestic consumption will become a shining point, the report said.

"Domestic consumption and investment has witnessed significant acceleration," the report said, influenced by surging exports since 2010.

The people out of work are expected to fall below 3 million in 2011, the lowest level since 1992, which will push domestic consumptions to see a "noticeable rise for the first time in several years."

The German government deficits are also expected to fall to 2.7 percent of GDP in 2011, as the government's stimulus program fades out and serious budget saving plan takes effect; Kazinform cites Xinhua.

See www.xinhuanet.com/english2010 for full version