Ifo economist: Data points to German economic growth being weaker than 0.8% forecast
Comments by Ifo economist, Klaus Wohlrabe
- Industrial sector is dragging the economy down
- Domestic economy remains important pillar of support
- Brexit decision delay did not help German business climate
For some context, the 0.8% forecast he's talking about is Ifo's own projection. The German government itself already sees economic growth this year as being at 0.5%. The sluggish result from the Ifo data earlier basically suggests that economic headwinds continue to blow strongly in the German economy as we begin Q2, so hopes for any solid economic rebound will have to wait just a little longer.