- Analytics
- News and Tools
- Market News
- Germany's IFO cuts 2022 economic growth forecast to 2.5% from 3.1%
Germany's IFO cuts 2022 economic growth forecast to 2.5% from 3.1%
The IFO institute said on Wednesday slashed the 2022 GDP growth projections for the German economy while sharply revising up its inflation forecast.
Key quotes
“Cuts its 2022 forecast for German growth to 2.5%, from 3.1% previously predicted in March, while revising its inflation forecast to 6.8%, up from an earlier 5.1%.”
“Raises 2023 economic growth forecast to 3.7% from 3.3%.”
"At the beginning of the year, high prices led to a loss of purchasing power among private households and in turn to a decline in goods consumption."
“Commodity prices and supply bottlenecks are expected to gradually ease in the second half of the year.”
Market reaction
EUR/USD consolidates the latest leg up below 1.0500, awaiting the ECB’s emergency meeting, due at 0900 GMT, for the next move. The pair is up 0.63% so far.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
