Deutsche Bundesbank Monthly Report, May 2004

The Deutsche Bundesbank has published the English version of its May 2004 monthly report. In the first few months of 2004 the global economic upturn grew both stronger and more widely based. The terrorist attacks in Madrid and the escalation of the situation in the Middle East had only a temporary unsettling effect on economic agents, the report said.

"Judging from the present perspective, there is a good prospect that, despite the high geopolitical risks, no serious disruption of the world

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