Germany’s Economy Ministry lowered 2019 growth forecast to a mere 0.5%, just half of January’s projection of 1.0% (downgraded from 1.8%). If realized, that would be slowest growth in six years. For 2020m, growth is projected to pick up to 1.5%.
Economy Minister Peter Altmaier said externally, slowing global growth, trade tensions and Brexit uncertainty are weighing on the economy. Internally, introduction of the new car emission regulations and unusually low Rhine water levels are negative factors.
The ministry also noted that global economy should regain some momentum ahead. Strong import would mean a negative contribution to growth in 2019, “purely mathematically”.
