Economic growth – economists forecast boom for 2022 – economy

In its first year, the new federal government can expect the strongest economic boom since reunification. The German Institute for Economic Research (DIW) lowered its forecast for gross domestic product growth in 2022 from 4.3% to 4.9% on Thursday. This would be the biggest plus since the start of all-German statistics. “The German economy won’t really take off until next year,” the researchers explained. However, due to stagnant production in the industry, they lowered their forecast for the current year from 3.2 to 2.1 percent. “The German economy is slowly emerging from the pandemic,” DIW economists said. Global bottlenecks for important intermediate goods such as microchips would hit the local industry hard. “As a result, domestic production has stagnated despite strong demand,” he said. “The service sector is also weakening again with the increase in the number of infections.”

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