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German economic growth forecasts slashed over trade war fears

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Staff Writer | June 19, 2018
Germany's economy is expected to grow more slowly in the coming years due to the risks around a euro crisis sparked by Italy and a potential trade war with the U.S.
German economic growth
Germany   The global economic risks have risen significantly
The Ifo Institute slashed its gross domestic product growth forecasts for 2018 to 1.8% from its previous estimate of 2.6%, which will represent a slowing from the 2.2% GDP growth in 2017.

For 2019, the Ifo cut its forecast to 1.8% from 2.1%.

"The economy developed significantly more weakly than anticipated in the first few months of the year," Ifo economist Timo Wollmershaeuser said.

"The global economic risks have risen significantly," he added.