The Chambers of Industry and Commerce slashes its 2019 forecast of German GDP growth for a second time this year
- Industrial companies are struggling with slowing world economy
- German economy is under pressure
- Business outlook has deteriorated since the start of the year
- Expectations for foreign business hit lowest level in a decade
- Says "that's an alarm signal"
- Domestic economy won't be able to decouple itself from difficult trade environment
This follows the earlier cut seen in February here. Certainly doesn't add to the good news for the euro so far this week but it mainly reaffirms the sluggish growth expectations of the German economy after all the data we have had for the first five months of the year.
