Economists Forecast Accelerated Growth

The German Institute for Economic Research (DIW) has predicted a „tangible acceleration“ of economic growth in the current quarter. During the final three months of 2003, the German economy should experience growth of around 0.5 percent, according to the Berlin-based institute. Economists based their predications above all on a rise in domestic industrial orders, which rose 3.5 percent between September and October. The numbers of orders from abroad have also continued to move in a positive direction. Productivity rates increased markedly in October while indicators in the services sector and retail also showed marked improvement. In November, the institute had predicted only 0.3 percent growth for the last quarter of 2003.