The German economy the first time in four years to drop

German Federal Statistical Office announced on the 14th of the data shows that Europe's largest economy Germany's second-quarter gross domestic product (GDP) in the first quarter fell 0.5 percent, the first decline in four years.

However, this figure better than the 0.8 percent decline economists had forecast. On a seasonally adjusted basis, second-quarter economic growth than the 1.7 percent the same period last year.

Analysts believe that the German economy slowed down mainly due to high inflation, the euro strong global economic slowdown and the negative impact of the construction industry in Germany, the decline in investment and consumption also weighed on the economy. In addition, the first quarter of strong economic growth in the second quarter also increased the ring base.

The same day German Federal Bank published a report said that although Germany's economic decline, there was no reason to be pessimistic. German Federal Minister for Economic and Technical Michael Geluo Si also said that the German government in 2008 to 1.7 percent economic growth forecast unchanged.