Exclusive-German government slightly raises 2024 GDP forecast to 0.3%, source says
BERLIN -The German government will raise its economic growth forecast for this year to 0.3%, from a previous forecast of 0.2%, while it will lower its forecast for inflation by 0.4 percentage points, a source told Reuters on Friday.Inflation is expected to fall faster than previously expected, going down to 2.4% this year. The government had forecast 2024 inflation at 2.8% in previous projections.
The forecasts are part of the draft spring projections of the government, which Economy Minister Robert Habeck is due to present next Wednesday.The German economy, Europe's biggest, was the weakest among its large euro zone peers last year, as high energy costs, feeble global orders and record-high interest rates took their toll.
This week, the International Monetary Fund cut its forecasts for German GDP by 0.3% for both 2024 and 2025, expecting 0.2% growth this year and 1.3% next year.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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