© Reuters. FILE PHOTO: A steel worker of Germany’s industrial conglomerate ThyssenKrupp AG stands a mid of emitting sparks of raw iron from a blast furnace at Germany’s largest steel factory in Duisburg, Germany. REUTERS/Wolfgang Rattay/File Photo
BERLIN (Reuters) – The German economy will grow slower than expected this year as supply chain problems and shortages of raw materials keep a lid on the industrial recovery, but it should rebound strongly next year, the DIW economic institute said on Thursday.
The DIW trimmed its growth forecast for this year to 2.1% from a previous 3.2%, but predicted a jump of 4.9% in 2022 assuming production constraints lift towards the end of the year. It sees growth normalising at 1.5% in 2023.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.