The German GDP growth rate will decrease up to 1.1 percent in 2019 from 1.5 percent this year, the country's Institute for Economic Research (IFO) said on Thursday.
MOSCOW (Pakistan Point News / Sputnik - 13th December, 2018) The German GDP growth rate will decrease up to 1.1 percent in 2019 from 1.5 percent this year, the country's Institute for Economic Research (IFO) said on Thursday.Earlier forecasts expected the 1.9 percent growth of the German GDP in 2019.
"The weak economic growth will remain until 2019 due to the problems in the car manufacturing industry. The wide range of uncertainties - especially Brexit, Italy and the US trade policy - are also limiting the growth of the word economy," senior IFO researcher Timo Wollmershaeuser said, as quoted by the institute's press release.
IFO also expects the growing number of employed people in Germany from 44.8 million people in 2018 to 45.2 million in 2019 and 45.5 million in 2020. The unemployment rate is expected to decrease from 5.2 percent this year to 4.9 percent in 2019 and 4.7 percent in 2020.
The inflation in Germany will increase from 1.9 percent in 2018 to 2.2 percent in 2019 and after that will decrease up to 1.8 percent in 2020, according to IFO.
