Bundesbank – Monthly report (Nov 2009)
Global industrial activity recovered in the second half of 2009 and the resultant pick-up in output nurtured a "considerable expansion" in global trade, according to the Bundesbank's Monthly Report for November last year. The report, published in December, noted that the German economy advanced with "marked momentum", with seasonally-adjusted real GDP growing 0.7% in the third quarter.
The report acknowledged that Germany was hit particularly hard by the financial crisis given the manufacturing
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