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The economic wise men are lowering their economic forecast for Germany for 2021 to 2.7 percent.
This is what the "Handelsblatt" and the "Frankfurter Allgemeine Zeitung" report, citing the forecast of the Advisory Council on the assessment of macroeconomic development.
In their last report in March, the economic wise men had expected growth of 3.1 percent.
The reason for the revision is likely to be the supply bottlenecks and the sharp rise in energy prices.
Last year, Germany's economic output slumped by 4.9 percent compared to the previous year.
The experts make hope for 2022. Then the wise men expect the reports to see an increase of 4.6 percent.
For the price level, they expect an increase of 3.1 percent this year.
After that, normalization should begin.
For 2022, the council is still assuming an inflation rate of 2.6 percent.
According to the “FAZ” report, the experts anticipate a slight decline in the number of unemployed to an average of 2.633 million for the current year, and a more pronounced decline to 2.367 million is expected in the coming year.
On Wednesday, the economic wise men officially present their annual report.
Ifo experts also revised their forecast
In September, the Munich-based Ifo Institute had also predicted that Germany's economy would emerge from the corona crisis more slowly than expected: According to the Ifo forecast, economic output should only increase by 2.5 percent this year - 0.8 percentage points less than in the previous estimate by the Munich researchers.
The European Central Bank sees the continuing shortage of materials as the greatest risk to the upswing.
"If material shortages and increased energy prices persist longer, they could slow the economic recovery," said ECB chief economist Philip Lane on Monday at a money market conference.
At the moment, however, the economy in the euro area is still largely running smoothly.
According to the head of the Euro Group, Paschal Donohoe, the economic recovery is even intensifying.
In the next year it will be even stronger.
Many countries could then return to pre-crisis levels.
mmq / Reuters / dpa
