A panel of advisers to the German government slashed its growth forecast for thi...
FILE PHOTO: Aerial view of containers at a loading terminal in the port of Hamburg, Germany August 1, 2018. REUTERS/Fabian Bimmer
BERLIN - A panel of advisers to the German government slashed its growth forecast for this year to 0.8 percent and warned risks related to Britain’s departure from the European Union, trade disputes and a sharper than expected slowdown in China remained high. The group that advises the German government on economic policy had in November forecast that Europe’s largest economy would expand by 1.5 percent this year.The panel said on Tuesday economic growth had slowed significantly, partly due to problems in the chemical and auto sectors and warned that a spiral of protectionist measures had the potential to push the economy into recession.
But Christoph Schmidt, one of the advisers, said: “The German economic boom is over but a recession is not currently expected due to the robust domestic economy.”Reporting by Michelle Martin; Editing by Madeline Chambers
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The 2019 Tiny Desk Contest Is OpenAnnouncing the 2019 nprmusic TinyDeskContest! Unsigned musicians can submit a video of an original song for a chance to play their own TinyDesk concert. For more information:
Read more »
Boeing's market value has plunged by $40 billion from its 2019 peakBoeing's market cap has dropped almost $40 billion from its 2019 peak. Wall Street remains bullish on the company.
Read more »
Measles outbreak 2019: Passenger with highly contagious disease passed through Los Angeles International AirportMeasles cases have been confirmed in 12 states.
Read more »
The 38 Cheapest Places To Travel In 2019Want to save money in 2019? Check out these expert tips for the cheapest places to travel on a budget.
Read more »
6 Bold Student Loan Reforms To Watch For In 2019There's a growing number of major reform proposals to address the student debt crisis.
Read more »
Brock Pierce's 2019 Cryptocurrency And Blockchain PredictionsBrock Pierce is as close to Hollywood-Crypto as you will get and the well-versed entrepreneur, venture capitalist, and early investor has some interesting predictions for the blockchain space in 2019.
Read more »
Here Are The 2019 Vehicles You Can Still Buy With Zero-Percent FinancingWe found no fewer than 65 cars, trucks, and SUVs from the 2019 model year that can be major money-savers.
Read more »