German Economy to Shrink 6.2% in 2009

After a disastrous first quarter, a new forecast from Germany's central bank, the Bundesbank, indicates pressure on the German economy will lessen later in 2009. "The German economy is currently in a sharp recession," the bank said in a statement on Friday. "Downward pressure on the German economy is likely to ease during the course of 2009." Still, any kind of upturn isn't expected until 2010.

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