Germany to back on its feet

Germany, Europe's biggest economy, is poised to bounce back to growth
next year following its worst recession in 60 years, the country's
main economic institutes said on Thursday. Output in 2010 should
reach 1.2 percent, the group of institutes said in a closely-watched
joint report, strongly revising up a previous projection of minus
0.5 percent made in April. "In the autumn of 2009 , the lowest point
of the worst global recession since World War II appears to be
behind us. Much points to an economic recovery," the institutes said
in a press statement. Greater stability on global financial markets, a
brighter outlook for world trade and a rebound in Asia will likely
help Germany, one of the world's leading exporters, recover
relatively quickly from its slump, the report said. The report came
the day before the government is due to present its own economic
forecasts, in which it too is expected to revise up its view
following a strong bounce in Germany's economic fortunes.