German EcoMin cuts 2019 GDP growth forecast to 0.5% vs. 1.0% last (EUR unfazed)

The German Economy Ministry announces a cut to the 2019 German GDP growth forecast by 0.5% from 1.0% previous forecast to 0.5%.

Additional Details:

Expects the economy to rebound in 2020, GDP growth forecast of 1.5%.

Trade disputes and Brexit are weighing on German growth.

Sees inflation at 1.5% in 2019 and 1.8% in 2020.

Expects export growth of 2.0% in 2019 and 1.8% in 2020.

Expects import growth of 3.8% in 2019 and 4.0% in 2020.