IMF trims German 2013 growth forecast to 0.3%

FRANKFURT (AFP) - The International Monetary Fund (IMF) lowered on Monday its forecast for German growth this year, but predicted that Europe's biggest economy will experience a recovery in the second half of 2013.

"Amid still elevated euro area uncertainty, we now project GDP (gross domestic product) in Germany to expand at around 0.3 per cent in 2013," compared with a previous forecast of 0.6 per cent, the IMF said in a statement. "Amid strong domestic fundamentals, a recovery in activity in Germany is expected in the second half of 2013. A more robust rebound is being held back by continued weakness in business investment."