GDP Estimate – Forecast: Less Growth – Economy

According to the leading institutes, the growth of the German economy will be a number smaller this year than previously assumed due to material shortages. For the current year they only expect an increase in the gross domestic product of 2.4 percent, said people familiar with the figures from the Reuters news agency. In the spring they had assumed 3.7 percent. For 2022, they also raised their forecast from 3.9 to 4.8 percent, while they expect an increase of almost two percent for 2023. Last year, the gross domestic product slumped by 4.6 percent due to the Corona crisis. Bottlenecks in intermediate products such as semiconductors are currently hindering the industry. The forecast is to be officially presented this Thursday. It serves as a basis for the federal government, for example for tax estimates.