2 July 2002, 14:07  German economy ministry sees Q2 GDP growth 0.5 pct vs Q1, 0.75 pct yr-on-yr

FRANKFURT (AFX) - The economy and technology ministry said it believes the German economy grew by at least a seasonally adjusted 0.5 pct in the second quarter compared with the first quarter, and by 0.75 pct compared with the same quarter a year ago. In a commentary on the German economy published on its website, the ministry said the economic upswing is broadening and gathering pace. "Productivity is revitalising and expanding over more and more areas of the economy," it said, adding that exports are also gaining. "Growing new orders...and a brighter business climate lead us to expect a continuation of the recovery of the German economy. "In the second quarter economic growth could be more than 0.5 pct, seasonally adjusted, compared with the first quarter, and could be around 0.75 pct higher than a year earlier," it said.

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