German Chambers of Commerce cuts 2019 GDP growth forecast to 0.6% vs. 0.9% last
|In its latest economic assessment, Germany’s Chambers of Industry and Commerce (DIKH) made a downward revision to its 2019 German GDP growth forecasts.
This was the second downgrade so far this year.
Key Details:
Industrial companies are struggling with the slowing world economy.
The German economy is under pressure.
Business outlook has deteriorated since the start of the year.
Expectations for foreign business hit the lowest level in a decade.
“That's an alarm signal".
Domestic economy won't be able to decouple itself from difficult trade environment.
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