> German economy now expected to expand slightly in 2023 - IfW

German economy now expected to expand slightly in 2023 - IfW

Germany's IfW economic institute revises higher its growth outlook for the economy

Thursday, 15/12/2022 | 08:39 GMT-0

2023 GDP forecast +0.3% (previously -0.7%)
2024 GDP forecast +1.3%
2023 inflation forecast +5.4% (previously +8.7%)
2024 inflation forecast +2.2%

The revision higher in growth and lower in inflation owes to a supposed decline in the cost of gas and electricity, according to the institute. I wouldn't be too pragmatic when looking at the numbers but the higher revision at least certainly points to some improvement in fortunes for the German economy - at least for now.