22 August 2007, 18:17  German Banking Group BdB sees H2 growth

German Banking Association BdB expects the country's economic growth to continue in the second half of this year despite the fallout of the US mortgage market crisis, BdB managing director Manfred Weber said. Weber said the perspectives for the German economy remain "friendly" and the path of economic growth is "solid" but growth rates seen last year are not expected to be repeated this year. "Given the particularly strong increases in orders and the substantial growth in employment, the dynamism in the economy could even increase somewhat in the second-half of the year," he said. He said the latest turbulence in the financial markets worldwide are mainly attributed to the increase of uncertainties in the credit markets. "Its direct impact on the (German) economy however would remain limited," he said

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