This is an interesting story as growing German growth flies in the face of the hysterical Keynesian who argued that fiscal consolidation would induce economic contraction.
According to the latest growth estimates compiled by Goldman Sachs, the US will finish 2010 with real growth of around 2%, substantially below revised forecasts for German growth. See below.
It's early in the game and the two economies are structurally different, but the highly excitable Keynesians who love gathering up and spending other peoples money must be nervous.
Aug. 19 (Bloomberg) -- The Bundesbank raised its growth forecast for Germany this year after the economy expanded at the fastest pace in two decades in the second quarter.
Gross domestic product will increase by about 3 percent in 2010, the German central bank said in its monthly bulletin published in Frankfurt today, lifting its forecast from the 1.9 percent it predicted in June. Data last week showed the economy grew 2.2 percent in the three months through June, the fastest since records for a reunified Germany began in 1991.
The German Growth Engine Revs Up [View article]
According to the latest growth estimates compiled by Goldman Sachs, the US will finish 2010 with real growth of around 2%, substantially below revised forecasts for German growth. See below.
It's early in the game and the two economies are structurally different, but the highly excitable Keynesians who love gathering up and spending other peoples money must be nervous.
Aug. 19 (Bloomberg) -- The Bundesbank raised its growth forecast for Germany this year after the economy expanded at the fastest pace in two decades in the second quarter.
Gross domestic product will increase by about 3 percent in 2010, the German central bank said in its monthly bulletin published in Frankfurt today, lifting its forecast from the 1.9 percent it predicted in June. Data last week showed the economy grew 2.2 percent in the three months through June, the fastest since records for a reunified Germany began in 1991.