Accelerating growth for Germany? Nein.

Germany's central bank has cut the country's growth outlook for 2013, admitting that even Teutonic productivity is not enough to beat the woes.

by Michael Northcott
Last Updated: 07 Oct 2014

And…yep, you’ve got it, the eurozone saga continues. On Thursday, the European Central Bank cut growth forecasts for Germany, France and the Netherlands in 2013, and now Germany’s Bundesbank has cut its own growth forecasts.

Given that Germany is the largest and most productive economy in the eurozone, this is bad news for overall growth. 
The Bundesbank was keen to point out that it did not expect ‘protracted’ lack of growth, but it did admit that the situation is not ideal. In a statement, it said: ‘Given the difficult economic situation in some euro-area countries and widespread uncertainty, economic growth will be lower than previously assumed.

‘The Bundesbank does not see a protracted slowdown but instead anticipates a return to growth path soon.’
It’s look increasingly like 2013 could be yet another tough year of grinding economic woes. When the proper growth will come is anybody’s guess.

Find this article useful?

Get more great articles like this in your inbox every lunchtime

Upcoming Events

Latest on MT

The business of golf has landed in the rough

The business of golf has landed in the rough

EDITOR'S BLOG: Adidas and Nike are getting out after conditions turned sub-par.

5 point guide to safeguarding your business

5 point guide to safeguarding your business

SPONSORED: Beef up your data security with these top tips.

Cheat sheet: restore your company's reputation

Cheat sheet: restore your company's reputation

The much maligned Sports Direct is opening its doors to the public. How else can you regain your good name?

Uber drivers and cabbies are both set for the scrapheap

Uber drivers and cabbies are both set for the scrapheap

One day the fierce rivalry on London's roads will be consigned to history by self-driving cabs.

Should CEOs resign after a personal scandal?

Should CEOs resign after a personal scandal?

Antonio Horta-Osorio says he won't quit Lloyds after The Sun labels him a 'love rat'.

Was Virgin Trains right to call out Jeremy Corbyn?

Was Virgin Trains right to call out Jeremy Corbyn?

Attacking politicians is seldom a good idea, no matter how far from power they seem.