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Report: IMF to cut its growth forecasts for Germany

Oct. 05, 2014 10:47 AM ETEWG, BUNL, BUNT, GERJ, EWGS, GGOV, FGM, DBGR, DXGE, HEWG, QDEUBy: Yoel Minkoff, SA News Editor6 Comments
  • The International Monetary Fund will cut its estimates for German economic growth in 2014 and 2015 to around 1.5% per year due to the crises in Ukraine and the Middle East, Der Spiegel reports. The forecasts are due to be published on Tuesday.
  • In July, the IMF estimated Europe's largest economy to expand by 1.9% this year and by 1.7% in 2015. Germany's economy got off on a strong foot in the beginning of year but shrank by 0.2% in Q2.
  • Der Spiegel says the IMF will also call on the German government to do more to boost public and private investment to boost growth in the short term and bring benefits for the country in the medium term.
  • ETFs: EWG, EWGS, DBGR, BUNL, GERJ, DXGE, FGM, GGOV, BUNT, QDEU, HEWG

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