VIENNA, Nov 19 - European Central Bank Governing Council Member Klaus Liebscher said the euro zone 12-nation single currency bloc would return to its potential output growth rate in the second half of next year. "Regarding next year, a return to potential growth in the euro area of over two percent can only be expected in the second half of 2004," Liebscher said in the text of a speech released late on Tuesday. "For 2004, the euro area can expect an inflation rate of near two percent, which will further decline slightly in 2005," he said in the speech to the American Chamber of Commerce in Austria. Liebscher also said that a high U.S. current account deficit "could in certain conditions lead to a sharp correction in the exchange rate of the U.S. dollar".||