Stock Groups

German economic institutes cut 2021 growth forecast to 2.4%

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: A view of the Hauptbahnhof central station, showing empty streets, in the midst of the COVID-19 pandemic. It was January 20, 2021. REUTERS/Fabrizio Bensch

BERLIN, (Reuters) – Germany’s major economic institutes have reduced their combined forecasts for growth in 2021 of Europe’s largest economy from 3.7% to 2.4%. Two people who are familiar with this decision informed Reuters that they did so because supply shortages slow recovery.

On Thursday, the institutes will release their combined growth forecast. They will increase their growth projections to 4.8% next year from 3.9% and project 1.9% economic expansion for 2023.

German authorities have so far forecasted growth of 3.5% this year and 3.6% next. However, they are likely to change their own projections this month.

Disclaimer Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts, data buy/sell signals and quotes. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.



[ad_2]