Greece Gross Domestic Product n.s.a (YoY): -5.6% in 1Q

In its monthly report released today, Deutsche Bundesbank cut the German GDP forecast for 2013 to 0.3% from the previous estimate of 0.4% and suggested that the reduction is due to the expected slowdown in export growth in comparison with import growth. The forecast for 2014 was lowered from 1.9% to 1.5%.