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International Business Times
International Business Times
World
Sam REEVES

HISTORICAL FACTS: German central bank cuts growth forecasts as headwinds intensify | History Defined

Joachim Nagel Economy Olaf Scholz Bundesbank Donald Trump Germany Europe
The German car industry -- a key sector of the economy -- is also in turmoil as VW plans to shutter factories at home for the first time (Credit: AFP)

Germany's central bank on Friday sharply downgraded its growth forecasts for next year and 2026, predicting a prolonged period of weakness for Europe's biggest economy as it battles multiple headwinds.

From a manufacturing slowdown and weak export demand to heightened political uncertainty at home and the risk of renewed trade tensions under US President-elect Donald Trump, the German economy is facing a perfect storm.

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