Bundesbank reduces forecast for German growth
The Bundesbank has revised down its 2005 GDP (Gross Domestic Product) growth forecast for Germany to 1.2-1.3% from 1.5% as the strong euro impacts exports. On the other hand, the German government expects economy to grow by 1.7% next year. German economic growth slowed down to 0.1% in the third quarter due to the fall in exports because of strong euro and a deceleration in global demand.