Economic researchers lower economic forecast significantly

Released on 14.10. 2021

  • In the seaport on the Baltic Sea, a ship is being handled with cranes. Photo: Bernd Wüstneck

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Last year, economic output in Germany collapsed due to Corona. The economy has indeed recovered. But there are factors that slow you down.

Berlin (dpa) – Leading economic research institutes have lowered their economic forecast for this year. The institutes expect gross domestic product in Germany to grow by 2.4 percent, as they announced. the gross domestic product increased by 3.7 percent this year.

The economic The situation in Germany is still characterized by the corona pandemic, it said. A complete normalization of “contact-intensive activities” is not to be expected in the short term. It can be assumed that in winter activity in the service sector will remain below the usual level even if there is little infection. In addition, supply bottlenecks hampered the industry. In the course of the year 2022 the German economy should return to normal capacity.

According to The institutes forecast that the gross domestic product will rise by 4.8 percent per year 2022. In their spring forecast, the institutes assumed an increase of 3.9 percent for the next year.

The institutes also expect consumer prices to rise by 3 percent in the current year and around 2.5 percent per year 2022. Increased energy prices had recently further fueled inflation in Germany. In September consumer prices climbed 4.1 percent compared to the same month last year, as the Federal Statistical Office announced on Wednesday 4.9 percent in relation to the gross domestic product in the current year to 2.1 percent in the coming year.

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