Germany Cuts Growth Outlook as Recession Peril Mounts
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Germany cut its growth outlook and investor confidence fell to the weakest level in two years as recession concerns mount in Europe’s biggest economy.
The Economy Ministry reduced its 2014 economic-growth forecast to 1.2 percent from 1.8 percent, and its 2015 prediction to 1.3 percent from 2 percent. The ZEW Center for European Economic Research said its index of investor and analyst expectations slid to minus 3.6 in October from 6.9 in September, the 10th monthly decline and the first negative reading since November 2012.