Published On: Wed, Apr 17th, 2019

GERMANY news: Merkel facing worst growth in A DECADE – Fears rise for Eurozone | City & Business | Finance

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The federal government has lowered its growth forecast for 2019 to 0.5 percent, down from an already lowered estimate of 1.0 percent.

Initial gross domestic product (GDP) growth expectations for this year were once as high as 1.8 percent.

However, the German government is insisting momentum is expected to pick up in 2020 where growth of 1.5 percent is expected.

Economy Minister Peter Altmaier said trade disputes and Brexit uncertainty were weighing on the German economy.

Meanwhile the production and industrial sector has been hit by new car emission regulations (WLTP) and unusually low Rhine water levels.

Mr Altmaier said in a report this month: “The German economy is showing a mixed picture.

“Services and construction in particular remain in good shape.

“The industrial sector is going through a weak phase due to the slowing world economy.”

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