Germany's economic advisers plan to follow the federal government's lead and reduce their forecast for economic growth in 2024, adviser Ulrike Malmendier told Reuters in an interview published on Wednesday.
"I think we will definitely be going in the same direction... that is what our numbers are indicating," Malmendier said.
The November forecast of the council of advisers to the government estimated growth would hit just 0.7% in 2024. The next official update is due in mid-May.
Germany's federal government has slashed its growth forecast to 0.2% from 1.3%, Reuters reported last week, due to low growth in the global economy and a German constitutional court ruling that blew a hole in the country's budget.
The government is due to publish its annual economic report later on Wednesday.
This article was from Reuters and was legally licensed through the DiveMarketplace by Industry Dive. Please direct all licensing questions to legal@industrydive.com.