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Germany slashes 2013 growth forecast to 0.4%

Published on Jan 16, 2013 7:10 PM
 

BERLIN (AFP) - Germany today slashed its estimate for growth this year by more than half, as Europe's debt crisis takes its toll on its top economy, but forecast a solid rebound in 2014.

Europe's powerhouse economy should expand by 0.4 per cent in 2013, Economy Minister Philipp Roesler said, a sharp downwards revision from a previous forecast of 1.0 per cent. In 2014, growth should be 1.6 per cent, he said.