31.   An economic upturn or a downturn affects their business accordingly.

32.   Bundesbank President Hans Tietmeyer said earlier this week that he believed lending rates were already so low that further cuts would not produce an economic upturn.

33.   Bundesbank President Hans Tietmeyer said earlier this week, however, that he believes rates were already so low that a further cut would not produce an economic upturn.

34.   But the labor office, in Nuremberg, attributed the May jobless decline in part to a usual economic upturn in the spring.

35.   He indicated earlier this week that he believed interest rates were already so low that a further cut would not produce an economic upturn.

36.   Khalid said Guthrie is adopting a medium-term perspective to prepare the group for a possible economic upturn by the next century.

37.   Schroeder, keen to avoid a conflict endangering a forecast economic upturn later this year, has been trying to push unions and employers toward consensus.

38.   She said one bright spot in the economic upturn was that there were more full-time workers.

39.   The effect of the expected economic upturn on the German job market, however, will be delayed, IFO president Oppenlaender said.

40.   The Helsinki-based company said it was satisfied with the results and predicted an economic upturn later this year.