The German government halves its expectation for economic growth in 2019. The Ministry of Economic Affairs is now counting on 0.5 percent growth for the German economy, while 1 percent was predicted in January.
The reduction in the growth forecast for Europe’s largest economy had already leaked to German media last week. Germany’s economy is experiencing a headwind from the weakening world economy, continuing trade tensions and uncertainty due to Brexit.
Earlier this month, five leading German research institutes also lowered their economic forecasts. They now expect a growth of 0.8 percent for this year from 1.9 percent previously predicted.