Bundesbank Cuts Growth Forecasts For Germany

Germany’s Bundesbank cut its forecasts for growth in Europe’s largest economy for this year and next, while signaling confidence that the worst of the recession in the euro area is over.

The Frankfurt-based central bank cut its 2013 growth projection to 0.3 from the 0.4 percent predicted in December, and said the economy would grow by 1.5 percent in 2014, down from the previously-estimated 1.9 percent.