Germany’s IFO Cuts 2021 GDP Growth Forecast to 2.5%

The German Ifo Institute announced this morning, Wednesday, that it has reduced its economic growth forecast in Germany during the current year, as the expectations of experts at the institute indicate that the German economy will grow by about 2.5% during 2021 due to the fluctuations in supply chains and the slowdown in the economic recovery after the Corona pandemic.

Germany’s Ifo economic institute slash the country’s 2021 GDP growth forecast by 0.8 percentage points to 2.5% on Wednesday, in light of supply chain disruptions and slowing post-pandemic economic recovery.

“Sees German inflation at 3.0% in 2021, 2.3% in 2022, 1.6% in 2023.”