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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: Chris who wrote (11139)	7/7/2001 5:14:05 PM
From: Captain Jack	Read Replies (1) of 52237

I think we can all agree with the last para here anyway.. ROME, July 7 (Reuters) - German Finance Minister Hans Eichel said on Saturday Germany was showing tentative signs of economic recovery and that the U.S. slowdown was the world's main economic problem at present. Speaking after a meeting of Group of Seven finance ministers, Eichel said the world's leading industrial nations were "realistic and optimistic" about the global outlook and had agreed to cooperate more closely to promote economic growth. "In Germany the trend is improving slightly," Eichel told reporters after the afternoon meeting, adding it was nonsense to suggest Europe's largest economy was entering recession. He noted that German GDP growth had picked up to 0.4 percent in the first quarter of this year from 0.2 percent in the final quarter of 2000. German inflation appeared to have peaked in May and looked to be falling, he said, while industry orders in May had risen -- although the latter rise was due to the inclusion of a number of big ticket orders and may not amount to a turnaround. In addition, a survey of German companies by the DIHT German Federation of Chambers of Industry and Commerce showed firms still expected a seven percent rise in exports this year, down from a 17 percent rise in 2000. Eichel said falling inflation should help stimulate domestic demand in Germany in the course of the year and would allow tax cuts implemented this year finally to enhance consumption. "At the moment the U.S. is the biggest problem for the world economy because it's the world's biggest economy," Eichel said, wading back into a debate launched by French Finance Minister Laurent Fabius ahead of the G7 meeting.

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