ECB’S Chief Economist sees weaker economic growth, but no recession.

Juergen Stark, in an interview with Sundays edition of Welt am Sonntag, predicts “a period of weaker economic growth, the duration of which will depend on the extent of repurcussions from the shockwave coming from the U.S”, but doesn’t see “any potential for recession.” Yesterday the German Government maintained its estimate of 1.7% growth in 2008.