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Think tank cuts German growth forecasts
Germany's Ifo thank tank has cut its growth forecasts for this year, 2019 and 2020, warning that the car industry's woes would last until next year, while and Brexit- and trade-related uncertainty would also drag.
The institute says expects Europe's largest economy to expand by 1.5% this year, compared to its previous estimate of 1.9%.
It lowered its 2019 growth forecast to 1.1% from 1.9%.
For 2020, it said it expected growth of 1.6%, compared with its previous prediction of 1.7%.
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