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 That's socialism for you: German economic growth slows sharply

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That's socialism for you: German economic growth slows sharply Vide
PostSubject: That's socialism for you: German economic growth slows sharply   That's socialism for you: German economic growth slows sharply Icon_minitimeTue Aug 16, 2011 5:53 am
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.

That's socialism for you: German economic growth slows sharply 501264820106105511



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.

The figures come ahead of a key meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy.

The two leaders will discuss ways to solve the eurozone debt crisis that has threatened to engulf Italy and Spain and has sparked turmoil on global stock markets.

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.

Growth in Spain slowed to 0.2% from 0.3%, while the Italian economy picked up slightly, growing by 0.3% against 0.1% in the first quarter.

http://www.bbc.co.uk/news/business-14539502
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