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Germany cuts growth forecasts for 2014 and 2015

  • With its export growth slowing, Germany has cut its growth forecast for this year as well as for 2015, media reports say. This year, the expected growth is now 1.2%, down from 1.8%. The country expects a growth of 1.2% next year too, down from the earlier forecast of 2%.

    Meanwhile, Eurostat data shows industrial production has fallen sharply across the eurozone in August compared to a year ago.

    German economy minister Sigmar Gabriel said geopolitical crises and “rough foreign waters” had increased uncertainty in the country.

     

    Tagged as: export growth, Germany, growth forecast, Eurostat data, industrial production, eurozone, economy minister, Sigmar Gabriel, business news