"On the one hand, repeatedly decreasing incoming orders indicate that Germany''s momentum will loose steam in the next six months. On the other hand, continuing price increases for energy and food are reducing the purchasing power of consumers. Furthermore, loan conditions for companies should worsen as a result of the financial market crisis and the expected interest rate increase by the ECB." (ZEW press release)

"The expectations of the financial market analysts are strongly influenced by the current forecast of a weaker economic momentum in 2009." (ZEW President Wolfgang Franz)

"The upswing will lose significant drive in the coming 12 months." (Germany's Chamber of Industry and Commerce)

"Leading indicators point to much worse news ahead on the manufacturing side of the euro-zone economy, including more recently in Germany. As a consequence, the risk of a recession is increasing and, unlike the previous downturn, monetary policy isn't going to come to the rescue." (BNP Paribas economist Luigi Speranza)

"Germany is on the verge of falling back into its old weak growth pattern. For 2009, we see a notable trough in economic growth looming." (BDI Federation of German Industry's managing director Werner Schnappauf)

"The data is really quite shocking. The mood among the analysts has dropped close to freezing point." (DekaBank economist Andreas Scheuerle)

"The strong increase in the price of oil is the deciding reason for the worsening outlook." (Commerzbank analyst Matthias Rubisch)

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