German government cites Brexit as it slashes growth forecast

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"1">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>Germany’s government has slashed its growth forecast and said concerns about a chaotic Brexit and trade tensions were holding back the continent’s powerhouse&period;<&sol;p>&NewLine;<p>Germany’s economy ministry said it was cutting its 2018 forecast to 1&period;0&percnt; from 1&period;8&percnt; in its previous outlook issued last autumn&period;<&sol;p>&NewLine;<p>The country’s economy minister Peter Altmaier said that while the German economy would grow for a 10th year in a row&comma; &OpenCurlyDoubleQuote;the headwinds&comma; primarily from the external environment&comma; are increasing”&period;<&sol;p>&NewLine;<p>He cited Brexit and trade conflicts as key issues&period;<&sol;p>&NewLine;<p>German businesses are unsettled about the possibility that Britain will leave the EU without agreeing on trade rules for a transition period&period;<&sol;p>&NewLine;<p>New import taxes imposed by the US and China are also weighing on prospects for global trade&period;<&sol;p>&NewLine;<p>That hurts the outlook for Germany because the country is a major exporter&period;<&sol;p>&NewLine;<p>Germany’s economy grew 1&period;5&percnt; last year and 2&period;2&percnt; in 2017&period;<&sol;p>&NewLine;<p>Growth was also held back by carmakers’ troubles getting vehicles certified under new&comma; tougher emissions tests&period;<&sol;p>&NewLine;<p>Unemployment is low and wages are rising&comma; thus far helping to keep the economic upswing going&period;<&sol;p>&NewLine;<p>But measures of industrial activity have sagged in recent weeks&period;<&sol;p>&NewLine;<p>Growth has been disappointing in Italy&comma; where the central bank has indicated the country likely slipped into a recession&comma; defined as two straight quarters of declining output&comma; at the end of last year&period;<&sol;p>&NewLine;<p>European Central Bank head Mario Draghi said this month that risks for the 19 countries that use the euro currency have &OpenCurlyDoubleQuote;moved to the downside”&comma; leading to speculation the bank could postpone raising interest rates from current record lows&period;<&sol;p>&NewLine;<p>The bank has said rates will stay at current lows at least &OpenCurlyDoubleQuote;through the summer”&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68ed2e48f0fc5">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; function &lpar;&rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; false &equals;&equals;&equals; &lpar; window&period;isWatlV1 &quest;&quest; false &rpar; &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&sol;&sol; Use Aditude scripts&period;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings &equals; window&period;tudeMappings &vert;&vert; &lbrack;&rsqb;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings&period;push&lpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;divId&colon; 'atatags-dynamic-belowpost-68ed2e48f0fc5'&comma;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;format&colon; 'belowpost'&comma;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub; &rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; document&period;readyState &equals;&equals;&equals; 'loading' &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;document&period;addEventListener&lpar; 'DOMContentLoaded'&comma; window&period;getAdSnippetCallback &rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub; else &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback&lpar;&rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<&sol;script>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>


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