Bundesbank cuts German 2019 GDP forecast to 0.6% from 1.6% previously

Bundesbank releases its latest projections for the German economy

• 2020 GDP forecast at 1.2% (1.6% previously)
• 2019 inflation forecast at 1.4% (unchanged)
• 2020 inflation forecast 1.5% (1.8% previously)

The German central bank notes that the economy is expected to experience a slight decrease in Q2 but real GDP is likely to pick up again somewhat in Q3. They expect German exports to start rising in the second half of the year with the prospect of a more protracted and clear decline in economic output seemingly unlikely.

They're a bit late to the party with the cut in economic projections as most other think tanks and economists have already chimed in with a similar view. The euro was sent down a few pips on the headline with EUR/USD falling from 1.1266 to 1.1257 but this isn't exactly fresh news in the grand scheme of things.