Ifo economist says Germany to grow in Q1 even as euro crisis returns

MUNICH, Germany, March 22 Fri Mar 22, 2013 5:33am EDT

MUNICH, Germany, March 22 (Reuters) - The German economy is still performing very well and should grow in the first quarter and in the rest of the year even as the euro zone crisis comes back into focus, Ifo economist Klaus Wohlrabe told Reuters on Friday.

Earlier, the Munich-based Ifo think tank's business climate index for March, based on a survey of some 7,000 firms, fell to 106.7 from 107.4 in February as ongoing struggles to agree a bailout for Cyprus reignited concerns that the euro zone debt crisis could weigh on Europe's largest economy.

"We shouldn't read too much into that - this is not yet a turning point," Wohlrabe said. "The (Ifo) readings in February were very optimistic."

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