Berlin Four major economic research institutes expect the German economy to shrink. In their combined economic forecast, they expect GDP to fall by 0.4 percent in 2023, as Handelsblatt learned from government circles. For 2022, they have projected a growth of only 1.4 per cent.
The forecast was prepared by the RWI in Essen, the IFW in Munich, the IFW in Kiel and the IWH in Halle, on behalf of the Federal Ministry of Economics. The “Combined Diagnosis” published semiannually is to be submitted on Thursday.
Compared to their forecast in the spring, institutions are thus significantly lowering their expectations. Even at that time, he expected a growth of 2.7 percent for the current year and 3.1 percent in the coming year.
Recession and Inflation: RWI, IFO, IFW and IWH Low Forecasts
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