Economists expect Germany's hard economic downturn

The Institute for the world economy (IfW) expects in Germany because of the Coronavirus-crisis with a "hard economic downturn". For the current year, the rese

Economists expect Germany's hard economic downturn

The Institute for the world economy (IfW) expects in Germany because of the Coronavirus-crisis with a "hard economic downturn". For the current year, the researchers lowered their economic forecast, and according to on Thursday in Kiel, published the analysis of a contraction of the German economy by 0.1 percent. In the coming year is expected, however, with a strong recovery in the largest European economy. A similar development, the researchers expect the Euro-zone.

"is Decisive for the economic loss precautionary measures which parts of the economy inhibit life as well as the high level of uncertainty about the duration and Severity of the pandemic and its consequences," said IfW President Gabriel Felbermayr. "Add to that declines in Production, because the precursors from Asia are not or too late delivered." IfW

In the next year should the economy again

wear the consequences of The Corona-pandemic interrupt according to the IfW, the emerging signs of a tentative recovery in the German economy. The Kiel-based researchers lowered their forecast for German economic growth in the current year by 1.2 percentage points down. For 2021, the Institute is anticipating but, again, with an increase in the economic performance of 2.3 percent. Thus, the IfW has increased the growth forecast for the German gross domestic product (GDP) by 0.8 percentage points. IfW

Also in the Euro area is likely to be a recession - particularly in Italy - is unavoidable, write the experts. "The GDP in the Euro area will shrink accordingly, in the current year by 1 percent and in the coming year to just over 2 percent," forecast of the IfW. The unemployment rate in the Euro area will rise, therefore, for the time being. In addition, the last moderate increase in consumer expected prices "significantly slow down". IfW expert reveals: So Gold will reveals the real crisis, currency, FOCUS-Online expert: So, Gold is the real currency in times of Crisis

csf/dpa-AFX
Date Of Update: 12 March 2020, 11:00

Yorum yapabilmek için üye girişi yapmanız gerekmektedir.

Üye değilseniz hemen üye olun veya giriş yapın.

NEXT NEWS