Economy: Leading institutes double growth forecast
The forecast on behalf of the Ministry of Economic Affairs, according to information from Handelsblatt, is significantly better this year. The upswing will continue next year as well.
Leading economic research institutes in Germany have upgraded their economic forecast. The country's GDP is now expected to grow by 1.3% this year, up from a previous estimate of 0.6% made in the spring. For next year, the institutes forecast growth of 1.1%, also an upgrade from 0.9%. The improved outlook is attributed to reduced impacts from geopolitical crises and boosts from increased government spending on defence and infrastructure. The forecast is to be officially presented on Thursday.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
