March 25 Reuters Leading German economic institutes have slashed their joint forecast for growth in Germany this year, to 0.1 from a previous 1.3, sources familiar with the matter told Reuters on Monday.

The institutes forecast the nation39;s gross domestic product GDP to increase by 1.4 in 2025, slightly revised from 1.5 previously.

Business daily Handelsblatt first reported on the revised forecasts.

The institutes expect a significant decline in inflation, forecast at 2.3 in 2024 and 1.8 in 2025, Handelsblatt reported citing government sources.

German inflation stood at 5.9 in 2023.

The full joint economic outlook, compiled by research institutions including Ifo, DIW and IfW, will be presented in Berlin on Wednesday.

Reporting by Rene Wagner and Klaus Lauer, writing by Andrey Sychev, editing by Rachel More

Source Reuters