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- Germany’s DIHK cuts its 2019 German GDP growth forecast
Germany’s DIHK cuts its 2019 German GDP growth forecast
DIHK President Eric Schweitzer said German exports are expected to shrink next year, marking the first fall since the global financial crisis.
"For our economy, with its strong industrial core, this is a huge challenge. Expects Germany's annual export growth to slow to 0.3% this year from 2.1% in 2018", Schweitzer said, adding that exports are likely to shrink by 0.5% next year.
"Since the financial crisis of 2008/2009, the DIHK has not received such pessimistic replies from the companies. Due to the bleak trade outlook, the DIHK cut its 2019 gross domestic product growth forecast for the German economy to 0.4% from 0.6% previously. DIHK forecasts GDP growth of 0.5% for 2020, was mainly due to an unusual high number of working days next year", Schweitzer said.
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