The news is finally made official
- Says economic growth remains on an upward path but is in more turbulent waters
- Risks from external environment have increased
- Those risks include Brexit, trade conflicts, external tax environment
- German government working for an orderly Brexit
- Expects net trade to subtract 0.3% from growth this year
- Expects private consumption to increase this year
The revision was reported last week here but now we're seeing it officially confirmed. The euro already took a bit of a hit at the time but it still moves a little lower on the day to 1.1425 currently from 1.1430 levels against the dollar. Nonetheless, the trading range today remains relatively confined with traders still waiting on the FOMC meeting to come later.
