Germany eyes hike in GDP growth forecast for this year - minister
Reuters
Published Apr 15, 2021 11:31
BERLIN (Reuters) - German Economy Minister Peter Altmaier said on Thursday he expected the government to significantly lift its full-year 2021 forecast for gross domestic product growth after leading institutes revised their own estimates.
"We'll not only be able to stop the economic slump this year, we can reverse it and regain our old strength next year," Altmaier said, adding he would present the government's updated GDP growth forecast on April 27.
In January, the government predicted GDP growth of 3% for 2021, following a drop of 4.9% in the previous year caused by the coronavirus pandemic.
The economic institutes now expect gross domestic product to grow by 3.7% this year, down from their previous forecast of 4.7% last autumn. But they raised their GDP estimate for 2022 to 3.9% from 2.7%, expecting household spending to rebound once coronavirus restrictions are lifted again.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.