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Germany: IFO lowers growth forecast, 1.1% in 2019

(ANSA) - BELGRADE, 13 DIC - The German IFO Institute expects the German economy to cool down in 2019, with the economic growth declining from 1.5 percent this year to 1.1 percent next year, IFO said in a statement today. Previously, IFO had forecasted growth of 1.9 percent for Germany in 2018 e 2019. Even if the "boom is over", Germany will "not to fall into recession," IFO underlined. "The weakness triggered by the automotive industry will continue until 2019," said IFO's Head of Business Cycle Research and Economic Forecasting Timo Wollmershaeuser. Wollmershaeuser mentioned as well that "a wide range of uncertainties are also curbing the global economy, and especially Brexit, Italy and US trade policy." IFO estimated that the unemployment rate in Germany will fell from 5.2 percent in 2018 to 4.9 percent in 2019 and 4.7 percent in 2020. The government's fiscal surplus will fall from a 53.8 billion euros in 2018 to 32.5 billion euros next year, and to 26.8 billion euros in 2020, IFO stated. (ANSA).