News release: “The German economy recovered rapidly from the 2008-09 recession, with GDP topping pre-crisis rates during 2011 and unemployment falling significantly. According to the OECD’s latest Economic Survey of Germany presented in Berlin by OECD Secretary-General Angel Gurría, Germany has an impressive economic track record, but now faces a cyclical return to slower growth rates and challenges to lay the foundations for long-term growth [Download underlying data in Excel]. The report cites numerous downside risks posed by the global slowdown, the deterioration of world trade and the euro area debt crisis. Given the weight and importance of Germany’s economy for Europe, growth-enhancing structural reforms can make an important contribution to stronger and more balanced growth perspectives not only in Germany but also in the Euro area…In a long-term perspective, Germany needs to transform its growth model to thrive as a knowledge-based economy. This transition requires policy efforts, investment and reforms in education, skills and innovation and continued leadership in green growth. But it also needs to work towards less burdensome regulations of services, increased labour participation of women and older workers and, thus, strengthening domestic demand.”