Mediafax (Mediafax)
Macroeconomics  |  July 20, 2012 14:50:05

The German economy slowed in the second quarter, estimated by the Ministry of Finance (July 20, 2012)


BERLIN (MEDIAFAX) - The German economy in the second quarter of this year, as estimated by the German Ministry of Finance slowed. Informed the AFP on Friday.

"Current economic indicators suggest that growth probably slowed slightly in the second quarter," writes the German Finance Ministry in its latest monthly report, without giving a specific estimate.

According to the German Ministry of Finance for the weaker performance in particular industry, which struggles with a decline in demand.

In the first three months of this year, the gross domestic product (GDP) of Germany, the largest euro area economy grew by 0.5 percent QoQ. First of all, thanks to the euro area as a whole and avoid a recession in the first quarter.

Federal Statistical Office Destatis published official data on GDP for the second quarter 14th August.

German economy in the first quarter of this year rose QoQ according to revised figures by 0.5 percent and 1.7 percent year on year. In the last quarter of German gross domestic product (GDP) dropped by 0.2 percent quarter on quarter. Europe's largest economy and its performance in the first quarter of this year off the threat of recession.

The German government in late April left the outlook for growth in its economy this year to 0.7 percent next year, the predicted acceleration of Europe's largest economy to 1.6 percent. Leading economic institutes in Germany in late April increased German economic growth forecast for this year to 0.9 percent in 2013 to the local economy to grow by two percent equals. So far, eight German institutes, whose predictions are based on estimates of the German government allowed for this year's growth at 0.8 percent.Institutes but also warned that the unresolved debt crisis Eurozone remains the biggest risk for the German economy.

Germany is Europe's largest economy and is dependent upon it, many Czech companies. Germany's gross domestic product last year rose by three percent and equal to slightly decelerated from 3.7 percent in 2010.

Tomáš Králíček, kralicek@mediafax.cz

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