Germany: Ifo, economy at risk of recession
Growth in 2019 likely to amount to 0.5% over previous year
12 September, 17:22Ifo added that a recession is looming over Germany, the largest and most important economy in Europe, forecasting that the GDP could shrink by 0.1% in the third quarter, after a similar contraction in the second quarter of the year. The scenario is caused also by external uncertainties, such as a hard Brexit or an escalation of trade wars.
However, Ifo added that the German economy is likely to gradually return to normal in 2020, with growth up to 1.2% (0.8% adjusted for calendar effects). (ANSA).