Merkel Wins Economic Panel Backing on Imbalances Before G-20
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The German government’s economic advisory panel said private consumption is beginning to balance out export growth, offering Chancellor Angela Merkel ammunition as she prepares to confront Group of 20 critics.
Germany, the world’s biggest exporter after China, will see foreign sales of products and services soar 15.5 percent this year and by 6.7 percent in 2011, the government’s council of economic advisers forecast in its annual report released today. At the same time, imports will climb 13.3 percent this year and 6.8 percent in 2011, the panel said.