0934 GMT [Dow Jones]--German business-funded IW economic institute cuts its growth forecast for Germany's economy after a survey of nearly 3,000 companies showed that the overall economic outlook deteriorated since spring. Only 31% expected their output to grow next year due to weak demand from the eurozone and the ongoing Ukraine crisis, according to the survey conducted by IW institute. In spring, more than half of the companies polled expected their output to grow in 2014. As a result, the institute cuts its economic growth forecast for Germany. It now predicts a 1.25% increase for this year and next compared with a forecast of around 1.5% given previously for both years. (andrea.thomas@wsj.com)
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(END) Dow Jones Newswires
November 17, 2014 04:34 ET (09:34 GMT)
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