The German IFO institute has cut the country’s GDP growth forecast for 2021 to 3.3% from the previous 3.7% due to supply bottlenecks, the latest report showed on Wednesday.
Additional comments
German inflation will rise to 2.6% in 2021, but will ease to 1.9% in 2022.
Raise the GDP growth forecast for 2022 to 4.3% from 3.2%.
The German current account surplus will shrink from 7% in 2020 to 5.8% in 2021 and 4.9% in 2022.
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