The Bundesbank slashed its growth projections for Germany on Friday, saying indu...
FILE PHOTO: Vegetables are pictured at Sir Plus supermarket for surplus, non-standard and expired food offered at discount prices in Berlin, Germany, February 18, 2019. REUTERS/Fabrizio Bensch/File Photo
Having been Europe’s engine of growth for years, Germany is now the biggest drag on the bloc, threatening to derail the euro zone’s long and protracted recovery from years of crisis as a global trade war exacerbates its troubles. The Bundesbank now sees 2019 GDP growth at just 0.6%, well below the 1.6% it forecast in December and it expects growth rebounding only to 1.2% next year, short of the 1.6% projected earlier.
The bank also warned that while it did not expect a more protracted decline in output, risks were still skewed toward a more negative outcome than its projections.
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