Germany’s IfW predicts 0.5% GDP growth in 2023 amid stubbornly high inflation
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
In its spring forecast released on Wednesday, Germany’s IfW economic institute raised its growth forecast for 2023 from 0.3% to 0.5%.
“The German government is predicting growth of 0.2%. For 2024, the institute upgraded its growth forecast from 1.3% to 1.4%.”
“The German economy is struggling to emerge from the energy crisis.”
“The economic consequences of the war in Ukraine have stalled the recovery from the pandemic and noticeably depressed the level of gross domestic product.”
“Consumer prices are set to rise by 5.4% this year, and by 2.1% in 2024.“
“High inflation is reducing households’ disposable incomes and leading to a decline in private consumer spending in the current year.”
EUR/USD is struggling to gain upside traction in the European session this Wednesday, currently trading at 1.0735, modestly flat on the day.
[/s2If]
Join Our Telegram Group
