Germany’s BDI association expected growth to slow further in 2020 to 0.5%. After calendar adjustment, growth could be as low as 0.1%. President Dieter Kempf said “industry remains stuck in recession, there are no signs for the sector bottoming out.”
He called for the government to lower corporate taxes to push averaged burden from the current 31% to 24%. He also urged massive public infrastructure investment over the next 10 years to boost the economy.
Released earlier, Germany CPI was finalized at 0.5% mom, 1.5% yoy in December.
