Bundesbank report optimistic on economy

The Bundesbank expressed cautious optimism on the outlook for German growth this year in its February report released on Monday 21 February, despite the surprise contraction in gross domestic product in the final quarter of 2004.

'There is no reason to be pessimistic for the current year,' the German central bank wrote in its February monthly report published Monday.

'After a year and a half, the German economy is still in the early phase of an economic recovery. Nevertheless, developments in t

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