Germany doubles growth forecast

Reuters was ahead on October 20 in reporting that the German government had more than doubled its economic growth forecast for 2010 — news which helped to boost the euro from below $1.3830 to above $1.3980 in subsequent hours. A cabinet-level source said the government now expected growth of 3.4 percent this year and 1.8 percent in 2011, compared to 1.4 and 1.8 percent previously. German news agency DPA followed 10 minutes later, and other international news agencies were later. The government officially released the figures on the following day.