The German government today revised lower their outlook expectations for the economy in 2012 and also in 2011 saying that the nation faces temporary weak phase from the crisis yet growth will pick up the pace into the next half of 2012.

The government revised lower growth expectations for 2012 to 0.7% from 1.0% and inflation is expected to slow to 1.7% versus 2.1% in 2011. Exports growth is expected to slow dramatically to 2.0% versus 8.2% in 2011 the government said.