Macro - Country Economic Forecasts - Germany

Macro - Country Economic Forecasts - Germany

Russia's invasion of Ukraine will materially undermine this year's recovery. We have further revised down our forecasts this month due to expected higher inflation this year and our more downbeat view on the industrial outlook, given a swift hit from new supply bottlenecks already in March. We now expect GDP growth of 2.0% in 2022, down from 2.4% last month. Our 2023 GDP growth forecast has been edged down slightly to 3.1% from 3.2%.

Germany: Higher energy prices, new bottlenecks are a drag on growth
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Economic development
Structure of the economy
Balance of payments and structure of trade

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