Submitted by christian on Sat, 10/11/2014 - 13:45
Germany's leading economic institutes (Munich-based Ifo, the DIW in Berlin, the RWI in Essen as well as Halle's IHW) have cut their growth forecast amid a slump in European demand and a series of global crises. They slashed their 2014 growth estimate for Germany down to 1.3 percent and predicted the German gross domestic product (GDP) in 2015 would reach 1.2 percent, which is also significantly lower than their previous estimate of 2 percent.
