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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (56413)	11/28/2001 2:41:26 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

This are really starting to look tuff. Note the bold at the bottom. Stan Tuesday, 27 November, 2001, 17:31 GMT Germany 'is already in recession' news.bbc.co.uk Finance Minister Hans Eichel has resisted stimulus calls Germany is already in a recession, and things will get worse later this year, a leading economic think-tank has said. "Germany is in recession, there is no doubt about that," said Hans-Werner Sinn, president of the influential Ifo economic institute. German job cuts this year DaimlerChrysler: 26,000 Siemens: 15,000 Hypovereinsbank: 9,700 Deutsche Post: 7,500 Deutsche Bank: 7,100 Deutsche Bahn: 6,000 Infineon: 5,000 BASF: 4,000 Bayer: 4,000 Degussa: 4,000 MAN: 4,000 Commerzbank: 3,400 Henkel: 3,000 Volkswagen: 3,000 Dresdner Bank: 2,800 Adam Opel: 2,500 Epcos: 750 During the July to September quarter, German gross domestic product (GDP) fell by 0.1%, and Mr Sinn said he expected a further reduction in the last three months of the year. Mr Sinn's remarks come the day after the Bundesverband der Deutschen Industrie (BDI), Germany's leading industry association, also admitted that a recession was a reality. And they came as industry association BVB said the German construction sector had shed 150,000 jobs this year, with a further 80-90,000 set to disappear in 2002.