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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: eims2000 who wrote (15451)	4/9/2001 2:37:02 AM
From: 2MAR$	Read Replies (1) \| Respond to of 37746

German Institutes To Lower '02 Growth To 2.2% - Report (Euro finally showing her colors) FRANKFURT (Dow Jones)--Economic think tanks are lowering their forecasts for German economic growth in 2001 and 2002, Financial Times Deutschland said Monday, referring to information obtained from the International Monetary Fund and Germany's six leading economic institutes. According to the newspaper, Germany's six leading institutes will project German growth to reach only 2.2% in 2002. For the current year, its growth forecast will be lowered to 2.1% from the previously projected 2.7%, the paper says. Germany's institutes are scheduled to release their latest growth forecasts Tuesday at around 0900 GMT. Meanwhile, the International Monetary Fund is also lowering its 2001 growth forecast for Germany to 1.8%, the FT Deutschland adds, citing unnamed sources. In addition, the German government appears to be ready to lower its own growth projection for 2001 as well, the paper says without citing sources. According to the paper, the government will lower its forecast to 2.25% oreven 2% from the current band of 2.6% to 2.9%. The forecast revision will be necessary after the next regular tax estimate in early May, when lower tax intakes due to a slowdown in the economy from the second half of 2000 are likely to be projected. So far, German Finance Minister Hans Eichel repeatedly said he expects German growth to be at the lower end of the government's forecast range, while German Chancellor Gerhard Schroeder always reiterated it doesn't make sense to adjust forecasts every other month. Both politicians have said in the past that a revision may be necessary after the next tax estimate in May. Newspaper Web site: ftd.de -By Klaus Brune, Dow Jones Newswires;49-69-29725-500;klaus.brune@dowjones.com (END) DOW JONES NEWS 04-09-01 02:34 AM * end of story * *Nikkei closes down 4% ... -542 points