IMF to cut German growth estimates

The International Monetary Fund will cut its estimates for German economic growth in 2014 and 2015 to around 1.5% for each year, due to the crises in Ukraine and the Middle East, weekly German magazine Der Spiegel said yesterday.

The forecasts are due to be published tomorrow.

In July, the IMF predicted Europe’s largest economy would expand by 1.9% this year and by 1.7% next year.