Germany to rebound from slump in 2010

Germany is poised to rebound next year from its worst slump in over 60
years, the government said on Friday, sharply revising higher its
forecast for output in Europe's economic powerhouse. The economy
should grow 1.2 percent in 2010 , Economy Minister Karl-Theodor zu
Guttenberg told reporters -- a considerably more positive projection
than the 0.5 percent given six months ago. Unveiling twice-yearly
forecasts, zu Guttenberg also said Berlin was less pessimistic for
this year, with the economy set to slump by five percent, compared to
the dire projection of minus six percent given in April. "Germany has
the strength for a clear upswing," he said. The minister said an
anticipated revival in exports in 2010 would help put the country --
one of the world's top exporters -- back on its feet. The economy
reached its lowest point during the summer and is now climbing out of
the trough, he said, adding that the recent strength of the euro
against the dollar was "not a reason for concern" as far as exports
were concerned.