Economists significantly reduce growth forecast for 2019


Updated April 04, 2019, 13:23

In its spring report, the top five economic research institutes significantly reduced their growth forecast for the current year from 1.9 to 0.8 percent.

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"The long-term growth of the German economy is over," says spring experts' opinion, published on Thursday.

One reason for this was that global economic conditions deteriorated further due to political risks.

Experts warn against Brexit

The institutes warned against a tough Brexit. A UK exit from the EU without an agreement has been "less likely, but not yet excluded" since the end of the March forecast.

In a no-contract Brexit, economic growth this year and next will likely be "significantly lower" than anticipated.

In it, economic researchers expect a strong increase in growth in 2020. Gross domestic product is expected to increase by 1.8 percent, the forecast says.

Report confirms previous forecasts

This confirmed the institute's previous forecast for next year.

Last year, the German economy grew by 1.4%. In 2017, GDP increased by 2.2%.

Since the beginning of the year, several institutions have strongly revised the growth forecast for Germany.

It was not until mid-March that the five economies reduced their forecast for 2019 from 1.5 to 0.8%. The Organization for Economic Co-operation and Development (OECD) currently expects only 0.7% growth for Germany. (Jwo / AFP)

The Plagiarius association attributed the most blatant plagiarism last year and called on consumers to decide against the "useless label of criminals." These ten products were given the nickname. (With dpa material)

image Teaser: © image alliance / dpa


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