The Bundesverband der Deutschen Industrie (BDI) of Germany, a powerful industrial association, slashes economic growth forecasts for this year from 3.5% to 3% due to current lockdown measures in the largest economy in Europe.
Additional comments:
“The industry association foresees a 8% industrial production growth in 2021“.
“The association raises the forecast for export growth to 8.5% from the previous forecast of 6%.”
Separately, German VDMA President Karl Haeusgen said: “We are increasing our previous forecast by three percentage points and now we expect real production growth of 7% by 2021.”
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