Growth Forecasts Lowered | Business| Economy and finance news from a German perspective | DW | 19.12.2002
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Growth Forecasts Lowered

The München based Institute for Economic Research (Ifo) has lowered its growth forecasts for the coming year - the fifth of Germany's six leading economic institutes to do this. "There are no signs that an upswing is starting", Ifo head Hans-Werner Sinn said on Thursday in Munich. The danger of a new recession was unlikely, he said, but could not be ruled out.