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Financial News: Bundesbank Cuts 2018 Growth Outlook

Bundesbank Cuts 2018 Growth Outlook

06/15/2018 - 04:55:00 (RTTNews)

(RTTNews) - Germany's central bank downgraded its growth outlook for this year as exports and business investment are expected to be less strong.

The economy is forecast to grow 2 percent this year instead of 2.5 percent projected in December. Meanwhile, the projection for 2019 was raised to 1.9 percent from 1.7 percent.

The Bundesbank forecast 1.6 percent economic growth for 2020.

Bundesbank said the projection paints a picture of an ongoing economic boom, in which increasing supply-side bottlenecks are reflected in strong wage growth and in higher domestic inflation.

EU harmonized inflation is forecast to rise marginally to 1.8 percent in the current year, and then to remain roughly unchanged in the following years.

Uncertainties regarding the short and medium-term prospects for the German economy have increased considerably, the central bank noted. As regards the inflation rate, risks are viewed as being balanced overall.

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