According to Reuters, German economic advisers in a recently published report announced that they cut the 2019 growth forecast to 0.8% from 1.5% in November. Advisers see 2020 growth at 1.7%.
Key quotes
- German economic growth has slowed considerably but recession in Germany is unlikely currently given strong domestic economy.
- German economic advisers point to risks from German economy from uncertain Brexit outcome, trade conflicts and danger of a stronger than expected slowdown in China.
- Given weakening economic momentum, a spiral of protectionist measures would have the potential to push Germany into a recession.
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