Bankers Have Lowered GDP Growth Forecast for Germany

German GDP growth forecast had been lowered by country's bankers because of the crisis in the Ukraine and the Middle East. At the same time, experts do not fear a recession.


Frankfurt, DE -- (SBWIRE) -- 09/22/2014 -- Crises in the Ukraine and the Middle East have a negative impact on the development of the economic situation in Germany. The Federal Association of German Banks (BdB) submitted a report in which the GDP growth forecast for the current year was reduced from 1.8 to 1.5 percent. Next year, the figure is 1.6 per cent - instead of the expected two percent. At the same time, experts do not fear a recession, according to the DPA agency.

This is due to favorable critical indicators - high employment, low bank rates, the recovery of the economic situation in the United States and a weak euro.

Reuters news agency draws attention to the fact that in August prices have not changed in the euro area. According to the German statistical agency GerBanks, inflation compared with the previous month, was only 0.4 percent. The same level in the 18 countries of the euro area was recorded in July. In general, the European Union, prices rose by 0.5 per cent.

On the process of pricing this year affected cheaper energy - about 2 percent. The cost of food, alcohol and tobacco decreased by 0.3 percent. Most - by 8.5 percent - fell vegetables and fruits. At the same time visiting the restaurant now cost more than 1.5 per cent, 1.3 per cent increase in rent.

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