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Investing.com -- The Ifo institute, based in Germany, has lowered its growth forecast for the country’s economy to 0.2% on Monday.
This revision is attributed to a lackluster consumer sentiment and the hesitance of companies to invest.
The institute expects some improvement in the upcoming year, with growth projected to increase to 0.8%.
This information comes from the Ifo, which had previously predicted in December that the economy would see a 0.4% growth this year if it could address its structural challenges.
However, the Ifo has also noted potential forecast risks due to pending economic policy decisions in Germany and the United States.
The institute completed its most recent forecast on Thursday.
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