Germany's Federation of Wholesale and Foreign Trade (BGA) predicted Tuesday that the county's economy growth rate would reach 2.5 or three percent in 2010, as wholesalers and service companies are recovering from the global financial crisis.
Germany's wholesales might climb about four percent this year to 769 billion euros (1,114 billion U.S. dollars), the Berlin-based BGA reported, holding an optimistic outlook for the country's economic future.
The German government expected the overall economic growth of 1.2 percent this year after a crisis-hit tough year of 2009.
+ACI-After the unprecedented contraction, the German economy is once again back in step,+ACI- BGA chief Anton Boerner said, adding +ACI-wolesalers and service companies didn't slump into depression, but braced themselves for recovery.+ACI-
The BGA said that exports would jump as much as 10 percent, driven by demands from rapidly-recovering Asian region.
Governmental stimulus programs and tax cuts would enable companies to employ staffs, which may help maintain domestic consumption, according to
the BGA.
However, the BGA warned that companies' capital raising might still be difficult in 2010, with banks reining in loans and increasing credit costs.