Sun, Aug 25, 2002 - Page 10 News List

Dollar falls against the euro and yen as US shares drop

BLOOMBERG , NEW YORK

European economies grew less than expected in the second-quarter, which may help increase demand for dollars, analysts said. The UK economy expanded at an annual 0.6 percent rate in the second quarter, down from the 0.9 percent pace estimated at month ago, the government said.

German growth increased 0.3 percent last quarter, Italy's economy expanded 0.2 percent and the Bank of France forecast 0.5 percent growth in the second quarter.

In contrast, the US economy grew at an annual rate of 1.1 percent in the second quarter. Still, that is down from 5 percent in the first three months of the year.

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