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To: orkrious who wrote (183627)	7/25/2002 8:30:47 PM
From: Haim R. Branisteanu	Respond to of 436258

Germany's second-largest bank, HypoVereinsbank HVMG.DE on Thursday cut its 2002 economic growth forecast for Germany to 0.25 percent from 1.0 percent. "There's very little separating us from a recession," HypoVereinsbank's chief economist Thomas Hueck told Reuters, adding the previous forecast of 1.0 percent growth this year was no longer tenable. "We already felt at the start of this year that the economic recovery would only be short-lived," Hueck said. He said it was already evident that falling share prices were impacting on wealth and the real economy. For 2003, HypoVereinsbank cut its growth forecast to 1.0 percent from 2.0 percent. HypoVereinsbank's revised growth forecasts coincided with the release earlier of Germany's Ifo business sentiment index for July, which posted an unexpected fall. reuters.com