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Germany: Ifo, GDP up 2.5% this year

Ifo, 5.1% forecasted for 2022

22 September, 11:08
(ANSA) - BELGRADE, SEP 22 - Gross domestic product in Germany is expected to grow by 2.5 percent this year and by 5.1 percent next year, the German Ifo Institute said in a statement today.

However, "supply bottlenecks in manufacturing slow overall economic recovery," the Institute remarked, adding that "In the manufacturing sector, value added contracted by 1.3 percent in the second quarter, having already fallen by 0.8 percent at the beginning of the year." In general, "the German economy is increasingly recovering from the coronavirus crisis. In the second quarter, economic output in Germany grew strongly by 1.6 percent, making up for much of the economic slump at the beginning of the year," Ifo said.

(ANSA).

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