German Economy Will Fail to Pick Up in 2013, Advisers Say

German economic growth will fail to pick up next year as the euro region’s sovereign debt crisis saps demand for German exports, the government’s council of economic advisers said in its annual report.

The German economy, Europe’s biggest, will expand 0.8 percent in 2013, the same pace as this year, the five-member council said in the 476-page report, which was published in Berlin today. Foreign trade won’t contribute to growth as imports accelerate faster than exports, it said.