Bundesbank: German GDP Growth To Slow In Q2
2011-06-20 15:08:57
Germany's economic growth eased in the spring after a strong start to the year, the Bundesbank said in its monthly report on Monday.
The economy experienced no economic momentum from private spending. The strong 'catch-up effects' pushed the economic growth during the first quarter. The growth is likely to be weak in the second quarter, the bank added.
This month Bundesbank upgraded Germany's 2011 growth estimate to 3.1 percent from 2.5 percent. But it would again slow to 1.8 percent next year.
The bank today said the labor market situation continued to improve in Germany.