Deutsche Bundesbank - Annual Report 2004

The Deutsche Bundesbank has published its Annual Report for the year ended 2004. For the German economy, 2004 was a year of rather mixed fortunes, according to the report.

"A positive aspect is that the price climate in Germany and in the euro area as a whole remained essentially favourable despite major burdens from administered prices and the oil price surge. In addition, the economy pulled out of the period of persistent weakness that had lasted from mid-2000 to mid-2003. In the third and

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