March 14, 2019 / 9:04 AM / 12 days ago

Ifo institute cuts German 2019 GDP growth forecast to 0.6 pct

BERLIN, March 14 (Reuters) - Germany’s Ifo institute has slashed its 2019 growth forecast for Europe’s largest economy to 0.6 percent from 1.1 percent due to weaker foreign demand for industrial goods, it said on Thursday.

“Industry won’t drive overall growth. Global demand for German products is weak because the world economy is losing further steam,” Ifo economist Timo Wollmershaeuser said. (Reporting by Michael Nienaber Editing by Michelle Martin)

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