German govt. says GDP growth slowed in Q2
2012-07-20 16:16:04
Germany's economic growth slowed 'somewhat' in the second quarter amid weak industrial production, the Finance Ministry said in its monthly report on Friday.
The economy is likely to grow at a moderate pace during the rest of the year, it said. Despite slower growth, tax revenues increased 7.5 percent in June to EUR 57.2 billion.
Official second quarter gross domestic product data is due on August 14. The largest Eurozone economy expanded 0.5 percent in the first quarter.
During the first half of 2012, government expenditure fell 1.5 percent from a year ago.