German economic institutes cut 2021 growth forecast to 2.4%

0
19
© Reuters. FILE PHOTO: General view of empty streets in a business district near the central train station Hauptbahnhof, amid the coronavirus disease (COVID-19) pandemic, during lockdown in Berlin, Germany, January 20, 2021. REUTERS/Fabrizio Bensch

BERLIN (Reuters) – Germany’s economic institutes will cut their joint forecast for 2021 growth of Europe’s largest economy to 2.4% from the 3.7% they previously projected as supply bottlenecks slow recovery, two people familiar with the decision told Reuters on Wednesday.

The institutes, which are expected to release their joint growth forecast on Thursday, will also raise their forecast for growth next year to 4.8% from 3.9%, and will project 1.9% economic growth for 2023.

The German government, which so far has been forecasting growth of 3.5% for this year and 3.6% for next, is expected to update its own estimates this month as well.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.