The Institute Germany’s IFO has cut its economic growth forecast this year, citing that the prolonged lockdown in Europe’s number one economy is hurting prospects for recovery.
Key Comments:
“IFO cut its 2021 growth forecast for Europe’s largest economy to 3.7% from 4.2% previously“.
“The coronavirus crisis is dragging on and this is reversing the expected strong rebound. “
“By 2022, IFO raised its growth forecast of GDP to 3.2% from 2.5% “.
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