Economic research institute Ifo sharply cuts its estimate for growth in the German economy to just 0.2 percent for 2024, just weeks after cutting its forecast to 0.7 percent in January from 0.9 previously. % of December.
"Restrained consumer spending, high interest rates and inflation, government austerity measures together with weak global growth are weakening the economy and leading to another winter recession," he said in a note. Timo Wollmershäuser, head of forecasting at Ifo.
The institute expects a recovery in the second half of the year, and improved growth for 2025 by 0.2 percentage points to 1.5%.
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