MUNICH, Germany Aug 25 The Ifo Institute will
likely cut its gross domestic product (GDP) growth forecast for
Germany in 2014 to 1.5 percent from the current target of 2.0
percent and third quarter growth will be nearly flat, Ifo
economist Klaus Wohlrabe said on Monday.
Wohlrabe told Reuters the Ukraine crisis was most definitely
a burden on the German economy though it was hard to quantify
its impact on Europe's largest economy. Companies with business
ties to Russia are generally more pessimistic, he said.
The Ifo economist said Germany is nevertheless far from a
recession with the car and chemical sectors proving to be bright
spots recently and the construction industry still in solid
shape. Domestic consumption also remained strong, he said.
(Reporting by Jens Hack; Writing by Erik Kirschbaum and Stephen