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- German thin tank DIW downgrades its economic growth forecast for 2015 for Germany
German thin tank DIW downgrades its economic growth forecast for 2015 for Germany
The German thin tank DIW downgraded its economic growth forecast for Germany on Wednesday. The economy is expected to expand at 1.5% in 2015, down from the previous forecast of 2.2%. The downward revision was driven by the weak industrial production at the beginning of the year.
The German economic growth in 2016 is expected to 1.9%.
"The German economy looks stronger at the moment than it actually is," DIW President Marcel Fratzscher said.
He also said that a Greek exit from the Eurozone is an "enormous" risk to corporate investment in Germany.
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