{"id":33834,"date":"2020-09-10T15:00:52","date_gmt":"2020-09-10T11:00:52","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=33834"},"modified":"2020-09-10T15:00:58","modified_gmt":"2020-09-10T11:00:58","slug":"the-german-institute-for-economic-research-raises-its-forecast-for-2020-gdp","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/the-german-institute-for-economic-research-raises-its-forecast-for-2020-gdp\/09\/10\/market-updates\/","title":{"rendered":"The German Institute For Economic Research Raises Its Forecast For 2020 GDP"},"content":{"rendered":"\n<p>The German Institute for Economic Research said that it expects the country&#8217;s economy to decline by 6% this year due to the Coronavirus pandemic, revised by raising its previous estimate of a contraction of 9.4%.<\/p>\n\n\n\n<p>&#8220;The German economy is doing very well, given the circumstances,&#8221; said Klaus Michelsen, an analyst at the institute.<\/p>\n\n\n\n<p>For the next year, the institute raised its GDP growth forecast to 4.1% from 3% in June but warned that the pandemic could still trigger setbacks.<\/p>\n\n\n\n<p>&#8220;It would be a mistake to think that the crisis will end quickly,&#8221; said Marcel Fratzscher, head of the institute.<\/p>\n\n\n\n<p>The German economy contracted at an unprecedented rate of 9.7% in the second quarter, and the deflation was expected to be accompanied by a wave of bankruptcy and massive unemployment were it not for the government&#8217;s countermeasures.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The German Institute for Economic Research said that it expects the country&#8217;s economy to decline by 6% this year due to the Coronavirus pandemic, revised by raising its previous estimate of a contraction of 9.4%. &#8220;The German economy is doing very well, given the circumstances,&#8221; said Klaus Michelsen, an analyst at the institute. For the &hellip;<\/p>\n","protected":false},"author":9,"featured_media":31892,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[36],"tags":[6839],"class_list":["post-33834","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-market-updates","tag-germany"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/33834","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=33834"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/33834\/revisions"}],"predecessor-version":[{"id":33835,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/33834\/revisions\/33835"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31892"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=33834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=33834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=33834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}