The german government raised the GDP growth forecast for 2021 to 3.5% from the 3.0% estimated in the January outlook, as confirmed Tuesday by Economy Minister Peter Altmaier.
Additional comments:
A forecast of GDP growth for 2022 of 3.6% in the first official estimate.
It is expected that the Consumer price inflation rises to 2.2% in 2021 and falls back to 1.5% in 2022.
The prognosis is based on the assumption that coronavirus restrictions will ease during the second quarter.
The economy is expected reach pre-crisis levels in 2022 later than.
Strong domestic demand and household spending are expected to support the recovery once the lockdowns are lifted.
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