German economy grinds to a halt

GERMANY - The German economy slowed to a halt in the second quarter of the year, according to new preliminary figures from the Bundesbank.

Second-quarter gross domestic product (GDP) was the same as in the first quarter, and only 1% up on the same period of 2000, the bank said.

But even that performance was better than had been feared by some.

Yesterday, 15 August, the influential DIW economic institute calculated that the economy contracted in the second quarter, and recorded only 0.7% annual g