BERLIN, Oct 16 (Reuters) - Germany revised up its gross domestic product (GDP) forecasts for 2009 and 2010 on Friday, saying Europe's largest economy had emerged from its deepest post-war downturn in the summer and was on a recovery path.
The economy is now expected to contract by 5.0 percent in 2009, compared to a forecast drop of 6.0 percent last April, and grow by 1.2 percent next year versus a prior forecast for meagre growth of 0.5 percent, the Economy Ministry said.
"The German economy emerged from its lowpoint in the summer after a year of contraction," Economy Minister Karl-Theodor zu Guttenberg said in a statement. "The chances are good that we can build on the upward trend next year."
The ministry expects the unemployment total to rise to 4.1 million next year, below a prior forecast for 4.62 million. Exports are seen rising 4.3 percent in 2010. In April, they had been forecast to rise by a mere 0.9 percent.
(Writing by Noah Barkin)