Weak demand damaged German economy says Welteke

GERMANY - Ernst Welteke, governor of the Bundesbank, believes that a recovery is on its way in the German economy, but that limp consumer demand is hindering its pace.

Welteke wrote in a column for the Welt am Sonntag newspaper that demand for German exports and a stronger global economy would help "the German economy take off by the end of the year".

"We had expected an improvement in the economy earlier - the mood among business has been fairly good for months."

He explained this by the fact t