Disappointing Germany threatens pace of union's growth.

(From China Daily)

Germany's economy is disappointing economists, investors and executives for a fourth year, crimping growth across the 12 nations sharing the euro.

In January, business confidence surged to a three-year high as demand from abroad pulled Europe's largest economy out of recession. Two months later, stagnant consumer spending prompted economists including Morgan Stanley's Elga Bartsch, Gustav Horn of the Berlin-based DIW institute and Silvia Pepino of J.P. Morgan to lower their growth forecasts.

Germany is being hobbled by the same obstacles that held back growth over the past decade: the highest labour costs in the European Union, …