German top think-tanks cut growth forecast

09 Oct, 2014

Germany's four leading economic institutes are cutting their forecast for growth both this year and next year as clouds continue to build over Europe's biggest economy, the daily Handelsblatt reported on Wednesday. The think tanks - Ifo of Munich, DIW of Berlin, RWI of Essen and IWH of Halle - are scheduled to publish their latest updated forecasts in a report on Thursday. But Handelsblatt said it had obtained a copy of the report, which predicts growth of just 1.3 percent in 2014, instead of the previous forecast of 1.9 percent.

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