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The German economy will gradually exit the hole left by its worst post-war recession and should grow at a modest pace over the next two years, aided by a recovery in global trade, the Bundesbank said on Friday. In its bi-annual forecasts, the German central bank forecast economic growth of 1.6 percent in Europe's biggest economy in 2010, easing to 1.2 percent in 2011, adding that the slowdown was largely due to statistical effects.