German economic advisers cut 2019 growth forecast to 0.8% from 1.5%

According to Reuters, German economic advisers in a recently published report announced that they cut the 2019 growth forecast to 0.8% from 1.5% in November. Advisers see 2020 growth at 1.7%. 

Key quotes 

• German economic growth has slowed considerably but recession in Germany is unlikely currently given strong domestic economy.
• German economic advisers point to risks from German economy from uncertain Brexit outcome, trade conflicts and danger of a stronger than expected slowdown in China.
• Given weakening economic momentum, a spiral of protectionist measures would have the potential to push Germany into a recession.