The prospects for Europe’s largest economy have improved and any slow down will be short lived.
That upbeat assessment for Germany comes in the country’s central bank’s monthly report. In December the Bundesbank slashed its 2013 economic growth forecast and warned the nation may dip into recession.
Now it believes a boost in exports will help the economy. “Thanks largely to demand from third-world countries, industry orders are on a recovery trend since the start of autumn,” the report said.
Last week, the German statistics office said that the eurozone’s largest economy contracted 0.5 percent in the fourth quarter of 2012.
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