Experts from the Institute for Economic Research (IFO) published a new report, according to which the German economy in 2020 will grow by 1.7%, and not by 1.8%, as previously estimated. At the same time, the growth forecast for the current year is left at 0.6%. The deterioration of the forecast is due to weak data on industrial production in the country, which is expected to adversely affect economic growth. At the same time, consumer spending, which will grow by 1.4% this year, will support Germany’s GDP growth, and their growth is expected to reach 1.3% next year. The forecast also suggests an increase in investment in 2019 by 3%, in 2020 – by 2.8%. According to IFO estimates, a slowdown in global economic growth will cause a slowdown in export growth to 1.3% this year. Next year, exports are expected to grow by 3.8%. The acceleration of inflation in 2020 is also predicted to 1.8% from 1.5% in 2019. A further decrease in the unemployment rate in Germany is expected – to 4.9% this year and 4.8% next year.
Gold prices gain amid prolonged economic uncertainty01.04.2020
Dollar steadies as investors brace for global economic contraction31.03.2020
Samsung Display to end all LCD production in South Korea and China by end 202031.03.2020
Pandemic crisis to hit economic growth in Asia, China, World Bank says