BERLIN (AP) — The German government has slashed its 2019 economic growth forecast for the country for the second time this year and is now predicting growth of only 0.5%.
Wednesday’s forecast halves the 1% estimate the government presented in late January, when it cut its forecast from 1.8%. It follows a string of downgrades by economists and other groups.
Economy Minister Peter Altmaier predicted growth of 1.5% in 2020.
Prospects for Germany, Europe’s biggest economy, have been weighed down by weaker growth elsewhere and by the after-effects of its own weak performance at the end of last year, when it was dragged down largely by one-time factors related to new car emissions standards.
Last year, gross domestic product expanded by 1.4%.