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Export revival may benefit Germany's recovery: central bank
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08:47, September 22, 2009

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German companies are benefiting from a revival in exports, along with the emerging global recovery, said Bundesbank, the German Central Bank, in its monthly report on Monday.

German economy enjoyed 0.3 percent of growth in the second quarter from the first as improving global trade boosted demand for exports and the government's 85 billion-euro (125 billion U.S. dollars) package stimulated domestic spending.

The rising export demand made a good "compensation" for the gap, said Bundesbank.

The current global recovery is mainly based on the positive effects from stimulus packages around the world and an "expansionary" monetary policy, said Bundesbank, and a "marked recovery" is likely to be seen in the third quarter, but setbacks can also not be ruled out as those measures may expire and rising unemployment in Germany may drag down its domestic consumer spending.

The road for the recovery of German economy will be "bumpy" and its "economy will not reach the level of prosperity it enjoyed in 2008 until, probably, 2013," Bundesbank President Axel Weber said in an interview with daily Frankfurter Rundschau on Monday.


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