Germany Ifo institute revises their forecast on the German economy

Germany
  • 2020 GDP forecast -5.2% (previously -6.7%)
  • 2021 GDP forecast +5.1% (previously +6.4%)

This mirrors similar adjustments made by the German government at the start of the month here. Essentially, it says that the recovery in the past few months have gone better than anticipated so that eats into the supposedly more robust recovery next year.

That said, take these changes with a pinch of salt as the latest virus developments in the region certainly casts plenty of uncertainty over how things will progress moving forward.