Germany is in recession and will suffer its worst growth in six years in 2019, the influential Ifo Institute has predicted, as production in eurozone factories continued to sputter.
The research group cut its forecast for 2019 economic growth to 0.5pc, warning that the weakness in Germany’s huge industrial sector is spilling over into the rest of the economy.
The Ifo expects GDP to contract by a further 0.1pc in the third quarter, a second consecutive quarter of falling output – meaning a technical recession.
“This downturn was triggered by a series of world political events that call into question a global economic order that has grown over decades,” warned Timo Wollmershaeuser, head of forecasts…
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