Bundesbank cuts growth forecasts for 2013 and 2014
Arabtoday
The German central bank, or Bundesbank, cut its growth forecasts for both this year and next year, but nevertheless insisted that Europe's biggest economy would shrug off its recent weakness. The Bundesbank said in its June monthly report that German gross domestic product would expand by 0.3 percent in 2013 and 1.5 percent in 2014. In its previous forecasts in December, the central bank had been pencilling in growth of 0.4 percent and 1.9 percent respectively.
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