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Germany lowers economic growth forecast for 2015

by ChemOrbis Editorial Team -
  • 15/10/2015 (13:20)
According to media reports, the German government cut their economic growth forecast for 2015 to a growth rate of 1.7% from their previous estimate of 1.8% in April. The government cited lower demand from China and other emerging markets as the main reason behind their downwardly revised growth estimates for this year. For 2016, meanwhile, Germany left their growth projections stable at 1.8%.

In August, Germany’s exports recorded the steepest decline seen since January 2009, plunging by 5.2% from a month earlier. The country’s industrial production also fell at its fastest pace in a year in August, declining by 1.2% following an upwardly revised increase of 1.2% in July. Some analysts read the latest figures as a sign that the German economy may be more vulnerable than previously suspected to weakening global trade.
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