Economic Buzz: German Ifo Institute Lowers 2021 Growth Outlook

Economic Buzz: German Ifo Institute Lowers 2021 Growth Outlook

Jun 16, 2021 07:06 IST capital market

The Ifo Institute has lowered its forecast for economic growth for Germany in 2021 to 3.3% from 3.7% forecast in March, because of bottlenecks in the supply of intermediate products. However, the projection for next year was lifted to 4.3 percent from 3.2 percent. With falling infection rates and progress in vaccination against Covid-19, the existing economic restrictions should gradually be lifted, the think tank noted.

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