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World Cup kick starts German economy

07-08-2010 13:59 BJT Special Report:World Cup 2010 |

The German team's prowess at the World Cup in South Africa is building an atmosphere of optimism back home. This could transform into higher level of domestic demand, and boost the economy.

As continental Europe faces gloomy growth prospects and adopts austerity measures, Germany's domestic demand is taking a hit. Official forecasts have capped growth at 1.4 percent in 2010. But some analysts say this outlook is too low. They predict that the German team's entry into the World Cup semi-final, lower unemployment rates and domestic inflation will boost GDP growth by 0.1 to 0.3 of a percentage point.

Market research groups say consumers are riding the "feelgood factor" of World Cup success, although the impact on the economy is hard to measure.

Editor:Xiong Qu |Source: CCTV.com

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