Weber: German economy has 'turned the corner'

The German economy has performed better than expected in the second quarter, with GDP growth estimated at about 0.5 pct from the first quarter, when it grew 0.4 pct from the previous quarter, Bundesbank president Axel Weber said.

In remarks made at the Frankfurt Business Journalists' Club, Weber also said that with first-half GDP coming out "surprisingly higher than what we expected earlier this year... the government's 1.8 pct growth estimate for 2004 is realistic." Weber said the Bundesbank