German Chancellor Angela Merkel’s government cut its growth forecast for Europe’s biggest economy as austerity policies in cash-strapped euro-region countries and cooling world trade damp exports.
German gross domestic product growth will slow to 0.4 per cent this year from 0.7 per cent in 2012, the Economy Ministry said in its annual report.
“We assume that the phase of weakness this winter will be overcome in the course of the year and that our...
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