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German economic advisors slash 2018 growth forecast to 1.6 percent: report

Reuters  |  BERLIN 

(Reuters) - to the have slashed their for growth this year to 1.6 percent from their previous prediction of 2.3 percent, a group of newspapers reported on Tuesday.

The NBR group of local newspapers said the cited the weaker global economic environment, fears about a trade war with and the risk of Britain quitting the in a disorderly fashion as reasons for reducing their forecasts.

The advisors, who are due to present their report on Wednesday, also expect capacity bottlenecks like a shortage of skilled labour to hit growth but they do not expect slower growth to have a negative impact on labour market, NBR said.

(Reporting by Michelle Martin, editing by Riham Alkousaa)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 06 2018. 20:20 IST