Germany’s 2010 Growth Rate Raised to 3%

Following one of the fastest growing quarters in twenty years, Germany’s central bank, the Bundesbank, increased its growth prediction for the second half of the year to 3 percent from 1.9 percent.

“The growth tempo will normalize after the extraordinarily dynamic second quarter,” the Bundesbank said. “But all in all, the fundamental economic situation in Germany is very favorable at the moment.”

The increase in economic activity can be traced almost entirely to growing global demand for goods produced in Germany.

Source: Bloomberg

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