IMF halves growth forecast for Germany

The International Monetary Fund on Monday (3 June) halved its growth forecast for Germany to 0.3 percent this year "amid still elevated euro area uncertainty" and asked the economic powerhouse not to "overperform" on fiscal consolidation.

"Ongoing recession" in the eurozone and declining German exports to other euro countries mean that the German economy is now expected to grown only by 0.3 percent this year compared to an April forecast of 0.6 percent, the IMF said in its yearly review...