Central banks downbeat on German, French growth

The German and French central banks issued downbeat growth forecasts Friday, as the EU Commission came under pressure to bring Paris in line over excessive deficits. The Bundesbank said the powerhouse German economy would expand by 1.7 percent this year, slowing to 1.4 percent in 2017. Exports, long the bedrock of the German economy, are only providing a "limited" push but "should pick up" in coming years, Weidmann predicted.