Germany Cuts Growth 2013 Forecast on Euro Crisis, Asia
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The German government cut its economic outlook for next year, citing stalling effects from the debt crisis in the euro area and slower growth in Asia hurting exports.
Europe’s largest economy will expand 1 percent in 2013, compared with a forecast for gross domestic product growth of 1.6 percent projected in May, Economy Minister Philipp Roesler said in Berlin today. He raised this year’s GDP forecast to 0.8 percent from 0.7 percent, citing a better-than-expected autumn.