The German government has cut 2012 GDP growth estimates to 1% from previous estimate of 1,8%. It has
announced the Ministry of Economy.
The figure, which was already anticipated yesterday, reflects the worsening of the economic trend weighed down by the debt crisis in Europe.
Exports, which have always been the engine of demand growth, will suffer the repercussions of the slowdown in global demand, and are forecast to rise 3,5% next year, down sharply from 7,5% this year. Growth this year will be 2,9%, slightly more than the 2,6% expected in April.
