Deutsche Bundesbank Monthly Report, October 2004

The Deutsche Bundesbank's October 2004 Monthly Report said the stability of the German financial system has strengthened further since the end of last year. This was assisted, the report says, by the rapid brightening of the macroeconomic climate in the wake of the global economic recovery.

"In the euro area in general and in Germany in particular muted domestic demand is still impeding a more vigorous recovery. Even in Germany, however, the moderate growth may be expected to continue, which m