DIW cuts Germany's growth forecast: German economics institute DIW on Tuesday said it had cut its 1999 forecast for German economic growth to 1.4 per cent from its previous expectation of 2.1 per cent. In its yearly report,it said the revision downwards was largely due to global economic developments. The institute further said that it expected a one per cent point year-on-year fall in German exports this year and no significant reduction in the country's unemployment, with the jobless average remaining above four million. "The Asian crisis countries will continue to be stuck in recession in 1999," it warned. "No end is in sight to the deflationary situation in Japan." German gross domestic product grew at 2.7 per cent in 1998. DIW, one of Germany's leading institutes, said the strong export trend which had sustained the German economy for so long with double-digit growth rates had already begun to weaken in the second half of last year.

Compusa Q2 store sales slip: CompUSA Inc. said its same store sales in the second quarter ended Decmber 26 fell 4.7 per cent from the year ago period while net sales rose 22 per cent. The retailer and reseller of personal computers posted net sales of $1.78 billion in the secondquarter versus $1.46 billion in the year-ago period. Sales from 37 converted Computer City stores that CompUSA continues to operate are included in the second quarter net sales figure but not in the comparable store sales calculation. Comparable store sales fell 3.3 per cent for the first six months of fiscal 1999 for the 148 stores open one year or more, while net sales increased 20 per cent to $3.17 billion from $2.65 billion in the year ago period. Specific comparable store sales figures were not provided.