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The German economy, Europe's biggest, will shrink by 2.5 percent this year as the global downturn decimates its exports, the International Monetary Fund said Thursday.
The German government has forecast that the country's economy will shrink by 2.25 percent this year. That would be its worst performance since World War II.
The German economy, Europe's biggest, tipped into recession in the third quarter as weakening exports fueled a bigger-than-expected fall in national output, government figures showed Thursday.
Germany will probably have to cut significantly its economic growth forecast for 2009 amid fallout from the global financial crisis, the country's economy minister was quoted as saying Saturday.
German business confidence fell in June, dragged down by concerns over record high oil prices, a closely watched survey of attitudes in Europe's biggest economy showed Monday.
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