Looking ahead to next year, the prospects for the German economy are becoming increasingly gloomy. Germany is threatened with a recession and further rising prices. That’s what the IfW research institute predicts.
Gloomy economic forecast: The Institute for the World Economy (IfW) assumes that Germany will no longer be able to escape a recession. This emerges from the economic forecast published on Thursday, as reported by the “FAZ”.
Gross domestic product is shrinking: “The German economy is in a downward spiral,” write the economists. Germany will “slide into a recession”. According to the forecast, gross domestic product (GDP) will shrink by 0.7 percent. In 2022, with growth of 1.4 percent, it will still be above zero. In addition, inflation is expected to rise from the current 8 to 8.7 percent next year.