HWWI: Pre-Corona level will be reached again in 2022

The Hamburg World Economic Institute (HWWI) expects the German economy to recover from the corona crisis in the coming year.

"After the decline in economic output last year by 4.6 percent, growth of 2.5 percent is now to be expected in Germany in 2021 and 3.5 percent for 2022," said Managing Director Dirck Süß on Tuesday in Hamburg.

Hamburg - This means that the pre-Corona level from the end of 2019 will only be reached again in the course of 2022.

“The general conditions for this autumn seem better than last autumn,” said Suss.

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Above all, the economic sectors of trade, gastronomy, body-related services and tourism could have recovered.

On the other hand, industrial production and construction have stalled due to disrupted logistics chains and a lack of materials.

The institute also expects consumers to be more willing to spend and companies will invest more.

dpa