Bundesbank halves 2015 growth outlook for Germany

Germany's Bundesbank halved its 2015 growth forecast for Europe's largest economy on Friday and also trimmed its estimate for this year, though its president said there were signs that current weakness would soon be overcome.

In bi-annual projections, the bank said it expected the economy to expand by 1.0 percent next year, compared with its June estimate of 2.0 percent.

It also cut its prediction for 2014 growth to 1.4 percent from 1.9 percent in June.

It said it saw gross domestic product (GDP) increasing by 1.6 percent in 2016, trimming its forecast from 1.8 percent in June.

"However, there is reason to hope that the current sluggish phase will prove to be short-lived," Bundesbank President Jens Weidmann said in a statement.

He also added that opportunities abroad would likely increase again next year.