The ifo Institute on Tuesday downwardly revised its economic forecast for Germany, with researchers now expecting 1.8% growth for 2018, down from 2.6% citing a weak start to the year and increased risks as reasons for revising down its previous forecasts. The institute also scaled back its growth forecast for 2019 to 1.8% from 2.1%.
“The economy developed significantly more weakly than anticipated in the first few months of the year,” Ifo economist Timo Wollmershaeuser said. “The global economic risks have risen significantly,” he added.
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