The German government’s panel of independent economic advisers has slashed its growth forecast for this year and is now predicting that the German economy will grow by only 0.8%.
In a regular update, the panel cut its Y 2019 forecast from the previous 1.5% and said growth may accelerate next year to 1.7%.
The experts said in a statement that the lower forecast was strongly influenced by the effects of the economy’s weak performance at the end of last year, when it was dragged down largely by one-time factors related to new car emissions standards.
They also pointed to high risks for the future from factors such as BREXIT uncertainty and global trade disputes.
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