The German central bank has cut its growth forecasts for the country's economy.
Bundesbank stated it expects the German economy to grow by just 0.3 per cent during 2013, which is down from its earlier prediction of 0.4 per cent.
Its 2014 growth forecast has also been revised down. It previously claimed there would be 1.9 per cent growth next year, but now says this will be just 1.5 per cent.
"In the euro area the economy appears to be bottoming out. Nevertheless, the Bundesbank sees continuing structural problems as standing in the way of a rapid improvement," a statement from the German central bank said.
Germany is thought to be one of the strongest economies in Europe and has recovered from the global financial downturn better than most of the continent's other major powers.
Chinese premier Li Keqiang stated on a visit to Berlin last month that he is hoping China and Germany can team up and work together to form an economic "dream team".
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