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German government halves 2019 growth forecast to 0.5%
Last year, gross domestic product expanded by 1.4%
17 April, 12:57
(ANSA-AP) - BERLIN, 17 APR - The German government has
slashed its 2019 economic growth forecast for the country for
the second time this year and is now predicting growth of only
0.5%.
Wednesday's forecast halves the 1% estimate the government
presented in late January, when it cut its forecast from 1.8%.
It follows a string of downgrades by economists and other groups. Economy Minister Peter Altmaier predicted growth of 1.5% in 2020. Prospects for Germany, Europe's biggest economy, have been weighed down by weaker growth elsewhere and by the after-effects of its own weak performance at the end of last year, when it was dragged down largely by one-time factors related to new car emissions standards. Last year, gross domestic product expanded by 1.4%.
(ANSA-AP).
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It follows a string of downgrades by economists and other groups. Economy Minister Peter Altmaier predicted growth of 1.5% in 2020. Prospects for Germany, Europe's biggest economy, have been weighed down by weaker growth elsewhere and by the after-effects of its own weak performance at the end of last year, when it was dragged down largely by one-time factors related to new car emissions standards. Last year, gross domestic product expanded by 1.4%.
(ANSA-AP).
