Germany economy expected to slow in Q2
DDP/The Local - [email protected]
Published: 20 Jun, 2008 CET.
Updated: Fri 20 Jun 2008 09:00 CET
The German Finance Ministry on Friday said it expected the country’s economy to slow considerably in the second quarter.
The ministry’s monthly report said growth would “very clearly” weaken in the second three months of the year after GDP surged higher in the first quarter.
The report said the slowing industrial production and turnover was to be expected after orders fell, but overall Europe’s largest economy remained in tact despite high energy prices and the strong euro.
The ministry said the “strongest growth impulses” were presently coming from domestic demand.
“The worsening of economic conditions abroad is weighing down on exports,” the report said – even if Germany continued to sell more goods abroad.
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The ministry’s monthly report said growth would “very clearly” weaken in the second three months of the year after GDP surged higher in the first quarter.
The report said the slowing industrial production and turnover was to be expected after orders fell, but overall Europe’s largest economy remained in tact despite high energy prices and the strong euro.
The ministry said the “strongest growth impulses” were presently coming from domestic demand.
“The worsening of economic conditions abroad is weighing down on exports,” the report said – even if Germany continued to sell more goods abroad.
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