Economic Indicators

Exclusive-Leading German institutes slash GDP forecast to -0.1% in 2024, say sources

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2024.09.24 06:56

BERLIN (Reuters) – Germany’s leading economic institutes have downgraded their forecast for 2024 and now see Europe’s largest economy shrinking by 0.1%, people familiar with the figures from the autumn joint economic forecast told Reuters on Tuesday.

© Reuters. FILE PHOTO: Containers are unloaded from the Hapag-Lloyd container ship Chacabuco at the HHLA Container Terminal Altenwerder on the River Elbe in Hamburg, Germany March 31, 2023. REUTERS/Phil Noble/File Photo

The growth forecast for 2025 was cut to 0.8% from 1.4%, and for 2026, the institutes envisage growth of 1.3%, the sources said.

The institutes’ joint economic forecast is due to be published on Thursday, meaning the figures could still change slightly before then.

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