German Ifo cuts 2019 growth forecast to 0.6% from 1.1% earlier

Germany's Ifo institute slashed its growth forecast for 2019 and now foresee the economy expanding by 0.6% as against 1.1% expected earlier in January. The think tank, however, sees the weakness to be rather short-lived and expects a rebound to 1.8% growth rate in 2020.