Ifo, a think tank, slashed Germany's GDP in 2019

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      The global economic slowdown, trade disputes sparked by US President Trump's "US Priority" policy and the risk of Britain's disorderly withdrawal from Europe may end a decade-long German economic expansion.
Timo Wollmershaeuser, an Ifo economist, said that Germany's industry, including the major automotive industry, may not contribute to this year's economic growth.
"Global demand for German products is weak as global economic momentum is weakening further," Wollmershaeuser said.
But Wollmershaeuser adds that a strong job market, moderate inflation and substantial wage increases will support private consumption and thus boost overall growth.
He said government spending would give additional stimulus to the economy. He said he expects government spending to grow by 2.6% this year, up from 1.0% last year.


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