11 April 2001, 11:59  GERMAN ECON. INSTITUTES CUT EMU GDP FCAST

Germany's six leading economist institutes cut their forecast foreurozone growth in 2001 to 2.6% from 2.8% and projected 2002 GDPat 2.6%, according to their Spring report. They also revised up theforecast for eurozone consumer prices to 2.3% this year from 2.1%previously forecast, although they would decline gradually to 1.8% in2002. German Finance Minister Hans Eichel said after the report waspublished that the growth downgrade was not a cause forpessimism. He said economic fundamentals especially in Germanyand Europe had improved in recent years.

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