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21 Mar 201903:03

Germany lowers its growth forecast to 0.8% in 2019

The German Government maintains that the country will grow by two tenths below the 1% announced at the end of January by Peter Altmaier, the German Federal Minister for Economic Affairs and Energy.

11 Mar 2019 — 18:30
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Germany lowers its growth forecast to 0.8% in 2019

 

 

Germany revises its growth forecasts. The German Government estimates a growth forecast of 0.8% for 2019, two tenths below the 1% announced at the end of January by Peter Altmaier, the German Federal Minister for Economic Affairs and Energy.

 

Last January, the German Government cut back its official growth forecast for 2019 from 1.8% to 1%, as a result of the negative impact of external factors such as the uncertainty surrounding the Brexit and the trade tensions.

 

Despite the worsening expectations, Germany would extend its current growth phase to ten consecutive years, the longest since 1966, although the expected expansion would be the weakest since 2013.

 

Likewise, this morning it has been disclosed that the production of the German industry fell by 0.8% in January compared to the previous month, according to provisional figures released by the Federal Statistical Office (Destatis).

 

In addition, in January the German economy exportedgoods and services worth 108.9 billion euros, representing an inter-annual increase of 1.7% and a level practically equal to that of December 2018.

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