“The German economy will experience a setback in the last quarter of 2021 and the first quarter of 2022 due to the pandemic, but it is set to regain significant momentum in the spring of next year.“said the country’s central bank, the Bundesbank, in updating its biannual economic forecasts on Friday.
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“While pandemic-related restrictions and intermediate goods supply bottlenecks will slow growth in the final quarter of 2021 and the first quarter of 2022, … private consumption is expected to increase substantially from spring“.
“We see the cgrowth of German GDP by 4.2% in 2022 compared to 5.2% observed in June; by 2023 we see them at 3.2% vs 1.7%. “
“We place the German inflation at 3.6% in 2022 compared to 1.8% seen in June. “
“Let’s expect German inflation of 2.2% in both 2023 and 2024, above the ECB’s target.”
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