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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: German economy to contract 4.5 percent: report AFP - Tuesday, March 24 BERLIN (AFP) - - Germany's gross domestic product (GDP) will contract by 4.0 to 4.5 percent this year, according to an internal economy ministry report cited by the Bild newspaper on Tuesday. ADVERTISEMENT The ministry in January was forecasting a contraction of only 2.25 percent for the year, but the government already has acknowledged that the forecast is outdated and a new estimate is due out next month. In its monthly report released on Monday, Germany's central bank said: "The global economy's sharp slowdown is affecting German economic production more and more." Economists have been lowering their forecasts, with Germany's second biggest bank, Commerzbank, saying on Monday that the economy was set for a much sharper recession than previously expected this year and could contract by up to 7.0 percent. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Enlarge Photo A job agency in Dresden, eastern Germany. The European country's gross domestic product will contract by 4.0 to 4.5 percent this year, according to an internal economy ministry report cited by the Bild newspaper. Most Popular – Top Stories Viewed AIG to give back 50 mln in bonuses: officials British reality TV star Jade Goody dies of cancer Red meat raises death risk, white meat lowers it Prince Charles blue over green crusade Alaska volcano erupts five times View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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