The Ifo Institute has again revised its forecast for the German economy downwards. The reasons are the low consumer mood and austerity measures by the government.
Listen to loudspeaker articles
Speaker Listen to article Close Close player
Ifo-Institute
Listen to the audio recording of the article here: Experts expect minimal economic growth in 2024
PlayPause -00:00:00 0.5x 0.75x 1x 1.25x 1.5x 2x More about this audio offer The audio version of this article was artificially generated. We are constantly developing this offer and look forward to your feedback. The Ifo Institute has once again lowered its growth forecast for this year. © Thomas Kienzle/AFP/Getty Images
The Ifo Institute has again lowered its growth forecast for the German economy. Economists only expect economic growth of 0.2 percent this year. “Consumer restraint, high interest rates and price increases, the government’s austerity measures and the weak global economy are currently dampening the economy in Germany and are leading to another winter recession,” said Ifo economics chief Timo Wollmershäuser.
However, with falling interest rates, lower inflation and increasing purchasing power for consumers, economic performance will accelerate in the middle of the year. For the coming year, the Ifo Institute increased its growth forecast by 0.2 points to 1.5 percent.
This article will continue to be updated.
The Ifo Institute has again lowered its growth forecast for the German economy. Economists only expect economic growth of 0.2 percent this year. “Consumer restraint, high interest rates and price increases, the government’s austerity measures and the weak global economy are currently dampening the economy in Germany and are leading to another winter recession,” said Ifo economics chief Timo Wollmershäuser.
However, with falling interest rates, lower inflation and increasing purchasing power for consumers, economic performance will accelerate in the middle of the year. For the coming year, the Ifo Institute increased its growth forecast by 0.2 points to 1.5 percent.
Page navigation
Home page