Deutsche Bundesbank Monthly Report, June 2004

The Deutsche Bundesbank has published the English version of its June 2004 monthly report. The discernible upturn in the economy during the second half of 2003 became somewhat stronger in the first quarter of this year, the report said.

After seasonal and working-day adjustment, real gross domestic product (GDP) was 0.4% up on the final quarter of 2003. Adjusted for variations in the number of working days, the year-on-year figure showed a 0.7% increase in overall output, compared with 0.1% in

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