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According to the joint forecast, economic researchers are becoming more pessimistic

2021-10-14T08:15:08.409Z

According to leading institutes, the German economy will grow less strongly in 2021 than had been hoped in the meantime. Supply bottlenecks in particular slow down companies.



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Freight train in Brandenburg

Photo: Soeren Stache / dpa

Leading economic research institutes have revised their expectations of the upswing this year downwards.

According to the so-called joint diagnosis, they only expect GDP growth in Germany of 2.4 percent.

In the spring, the leading economic institutes had expected that after the corona-related collapse of the economy in 2020, gross domestic product would increase by 3.7 percent this year.

In 2020 as a whole, gross domestic product fell by 4.9 percent.

The German economy is currently burdened primarily by supply bottlenecks for raw materials and intermediate products.

Several economists and business associations had therefore lowered their forecasts in recent weeks.

The situation is also having a negative impact on the important German exports, which lost momentum in August.

For the first time since May 2020, the companies delivered less abroad than in a previous month, as the Federal Statistical Office announced last Friday on the basis of preliminary data.

However, exports were still above the pre-crisis level of February 2020.

The so-called joint diagnosis of the institutes is drawn up twice a year, in spring and in autumn.

The German Institute for Economic Research, the Ifo Institute, the Institute for World Economy, the Leibniz Institute for Economic Research Halle and the RWI Leibniz Institute for Economic Research Essen are currently involved.

dab / dpa

Source: spiegel

All business articles on 2021-10-14

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