In its economic outlook published yesterday the Organization for Economic Co-operation and Development (OECD) forecast the global economic upward trend to continue. As regards Germany the OECD has markedly increased its growth forecast expecting economic growth of 2.8% this year (adjusted for calendar: 2.9%) and 2.5% for next year (adjusted: 2.2%).
These forecasts by the OECD are more optimistic than those made by the German government (2.3% and 2.4%). Thus, German growth is slightly above the European average: Average economic growth for all 30 OECD member states combined is estimated to amount to 2.7% in real terms in 2007 and 2008. Thus, compared to all the other G7 countries Germany can even be considered to be the economic powerhouse.