Bundesbank slashes 2012 German growth outlook

Discussion in 'Wall St. News' started by ASusilovic, Nov 21, 2011.

  1. FRANKFURT (MarketWatch) -- Germany's central bank on Monday cut its forecast for German economic growth in 2012, projecting gross domestic product to expand by 0.5% to 1% versus an earlier prediction of 1.8%, Dow Jones Newswires reported. In its monthly report, the Bundesbank warned that a "pronounced weak phase" can't be ruled out if Europe's sovereign debt crisis worsens significantly, the report said. The German economy is likely to see rough sailing in coming months as foreign demand weakens, aggravated by turmoil in financial markets, the report said.


    Good news for Germany´s Bundesbank, finance minister Schaeuble and "Mutti" Merkel. With open eyes and stupid brain right into the middle of the next recession - or maybe depression? Great job, braniacs! :mad: