German IFO institute cut the country’s 2021 GDP growth forecast to 3.3% from 3.7% previous due to supply bottlenecks, the latest report showed on Wednesday.
Additional takeaways
German inflation to jump to 2.6% in 2021 but ease to 1.9% in 2022.
Lifts 2022 GDP growth forecast to 4.3% from 3.2%.
German current account surplus to shrink from 7% in 2020 to 5.8% in 2021 and 4.9% in 2022.
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