Germany's leading economic institutes slashed their forecasts for 2019 grow...
BERLIN - Germany’s leading economic institutes slashed their forecasts for 2019 growth by more than half on Thursday and warned that the economy - Europe’s largest - could slow much more if Britain quits the European Union without an agreement.
The institutes cut their overall growth forecast for this year to 0.8 percent from a previous 1.9 percent and said risks had increased since the autumn. Long the euro zone’s economic powerhouse, Germany narrowly skirted a recession at the end of last year and posted its weakest growth in five years in 2018 as its export-orientated economy is slowed by the trade and Brexit headwinds.
The tighter public finances - after years of budget surpluses routinely exceeding expectations - are starting to raise tensions over spending priorities in Merkel’s awkward grand coalition, senior party officials say. Their estimates feed into the government’s own growth projections, which will be updated later this month. In January, the government forecast growth of 1.0 percent for this year.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump says his father was 'born in a very wonderful place in Germany' — but Fred Trump was actually born in New York City'My father is German, was German. Born in a very wonderful place in Germany,' Trump said of his father while meeting with NATO secretary general Jens Stoltenberg. But Fred Trump was actually born in New York City.
Read more »
Trump keeps lying about his ancestryPresident Trump continues to insist his father was born in Germany, when that simply isn't true.
Read more »
Deutsche Bank goes bearish on sterling and raises the odds of a no-deal BrexitThe German lender still favors a general election as the most likely outcome.
Read more »
Merkel says she still hopes a Brexit solution can be foundGerman Chancellor Angela Merkel said on Tuesday she hoped for a solution to Brit...
Read more »
German bank union teeters on a capital knife-edgeDeutsche Bank could in theory buy Commerzbank without breaching its 13 pct equity target. That requires the benefit of the doubt from regulators on merger costs and accounting, and assumes no changes to Deutsche’s investment bank. Raising more cash undermines the deal’s benefits.
Read more »
German payments-company Wirecard is suing the Financial Times for its coverageWirecard has been the focus of a series of articles in the Financial Times in which the company alleges it used and misrepresented its business secrets.
Read more »
Cost of Boeing groundings rises as TUI takes $200 million-plus hitAnglo-German tour operator TUI became the latest Boeing 737 MAX operator to warn...
Read more »
German train car arrives in New York for Auschwitz exhibit
Read more »
Law firm of Cristiano Ronaldo loses trial against the SpiegelThe dispute over the German magazine Der Spiegel articles on tax avoidance by the star footballer went on for two years. On Tuesday, the lawsuit came to an end – in favor of the magazine.
Read more »