Tuesday, August 16, 2011

Germany GDP drops to .1, 1st Q revised down, EuroZone only .2, unexpected

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8/16/11, "German economic growth slows sharply," BBC "A Serious Disappointment"

"Growth in the German economy slowed sharply between April and June and was weaker at the start of the year than previously thought, figures show....

German economic growth in the first quarter of the year was revised down to 1.3% from a previous estimate of 1.5%....

The economy grew by just 0.1% in the quarter, according to figures from the national statistics office. Growth in the eurozone as a whole also slowed.

Germany had been driving the economic recovery in the eurozone....

Figures also released on Tuesday showed that eurozone economic growth slowed to 0.2% in the second quarter,

  • down from 0.8% in the previous three months."...


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