Germany’s Economic Growth Forecasts to Be Revised Lower

Forecasts for Germany’s economic growth for this year are expected to be revised lower to 3.7% from 4.7%, Reuters reported citing sources in German economic institutes.

The move comes amid preventive measures against the coronavirus pandemic and lockdowns taking longer than previously expected.

Meanwhile, the estimated growth rate for 2022 will be revised higher to 3.9% from 2.7%.