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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

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To: Snowshoe who wrote (90542)	5/23/2012 6:23:16 PM
From: Haim R. Branisteanu	Read Replies (2) of 217916

German 2Q GDP Growth To Be Slower Than Expected - Government 23-May-2012 BERLIN (Dow Jones)--German economic growth will be slower in the second quarter than previously expected, the finance ministry said Thursday, citing expansion in the first three months of the year that exceeded expectations. The ministry didn't give a figure. The second quarter will show a "technical backlash," the ministry said in its May report. First quarter growth was 0.5% on a quarterly basis and compares with a 0.1% contraction for the 17-nation euro zone, forecast by the European Commission. It shows how Germany, the currency bloc's biggest economy, is supporting a region gripped by the sovereign-debt crisis that threatens to spread from Greece to other fiscally fragile economies such as Spain and Italy. "Overall, the fundamental economic trend during the first half-year is in line with the government's expectations," the ministry in Berlin said. Its "growth forecast for a real 0.7% on average in 2012 is well supported." It said it expects a notable global economic recovery this year, though euro-zone weakness will curb German exports. Germany's labor market remains robust, it said, with slower employment growth and falling joblessness expected. Recent wage deals in the country "currently pose no inflation risk," it said. Greece holds elections next month after an inconclusive vote May 6 raised concern it won't meet conditions for international bailout funding and will be forced from the euro zone. Against this backdrop, investors have seen German bonds as a safer bet and demand has driven their yields to record lows. -By Andrea Thomas

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