Germany's DIW institute revises down GDP forecasts following budget cuts

<ul><li>2024 GDP growth seen at 0.6% (previously 1.2%)</li><li>2025 GDP growth seen at 1.0% (previously 1.2%)</li></ul><p>Their previous forecast was just three months ago as they note that the budget cuts to Germany's climate and transformation fund would end up dampening growth prospects by around 0.3% next year and 0.2% in 2025. Adding that a slower recovery from recession territory would keep the German economy on the backfoot going into the year ahead.</p>

This article was written by Justin Low at www.forexlive.com.