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Politics : THE VAST RIGHT WING CONSPIRACY -- Ignore unavailable to you. Want to Upgrade?

To: calgal who wrote (5842)	1/28/2004 7:13:12 PM
From: calgal	Read Replies (1) \| Respond to of 6358

Germany Sticks to 2004 Growth Forecast Wed Jan 28, 9:11 AM ET Add Business - AP to My Yahoo! BERLIN - The global economic recovery and growing exports should help Germany rebound in 2004, but the strong euro could pose a risk, the government said Wednesday, sticking to its forecast that the economy will grow by up to 2 percent this year. Related Quotes DJIA NASDAQ ^SPC 10468.37 2077.37 1128.48 -141.55 -38.67 -15.57 delayed 20 mins - disclaimer Quote Data provided by Reuters Missed Tech Tuesday? Technology is changing sports-- for better or worse. Plus, tech tools for athletes and sports fans alike. Economics and Labor Minister Wolfgang Clement said the German economy — Europe's biggest — should grow by between 1.5 percent and 2 percent, in line with an October forecast. The government is basing its budget decisions on an assumption of 1.7 percent growth, following three years close to zero. "Risks are mainly from the euro's development, which is obviously closely under observation by the European Central Bank — and I hope also taken into consideration," Clement told a news conference. He declined to specify at what level a strong euro would start hurting exporters. Despite the strength of the common currency, which reached an all-time record against the U.S. dollar earlier this month of nearly $1.29, the government said in its annual economic report that German exports would rise by 5.8 percent this year after increasing 1.1 percent last year. The euro was quoted at $1.2598 at midday Wednesday in European trading. Last year, Germany's economy had its weakest performance since 1993. Real gross domestic product contracted by 0.1 percent.