Germany's central bank keeps things real as we look towards the new year
- 2019 GDP forecast seen at +0.5% (previously +0.6%)
- 2020 GDP forecast seen at +0.6% (previously +1.2%)
- 2021 GDP forecast seen at +1.4% (previously +1.3%)
Just take note that their previous forecast came back in June here, hence the marked revision to the yearly growth estimate for next year. Meanwhile, they estimate 2022 GDP to be +1.4% - similar to that of 2021.
The central bank alluded to continued downside risks on their projections with the manufacturing downturn set to drag on economic growth amid some weakening in domestic demand and the labour market.
