FRANKFURT, Germany (AP) — Europe got more bad news about its dominant economy Tuesday when the German government slashed its growth estimate for this year to 1.2 percent from 1.8 percent.
The cut follows a run of disappointing data on exports, industrial production and factory orders — the heart of Germany’s manufacturing and export-dominated economy. The drip, drip of bad news has raised fears that Germany could slip back into recession or stagnate, dragging down the 18-country eurozone — which itself is struggling to stoke a recovery.
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