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Experts from the Institute for Economic Research (IFO) published a new report, according to which the German economy in 2020 will grow by 1.7%, and not by 1.8%, as previously estimated. At the same time, the growth forecast for the current year is left at 0.6%. The deterioration of the forecast is due to weak data on industrial production in the country, which is expected to adversely affect economic growth. At the same time, consumer spending, which will grow by 1.4% this year, will support Germany’s GDP growth, and their growth is expected to reach 1.3% next year. The forecast also suggests an increase in investment in 2019 by 3%, in 2020 – by 2.8%. According to IFO estimates, a slowdown in global economic growth will cause a slowdown in export growth to 1.3% this year. Next year, exports are expected to grow by 3.8%. The acceleration of inflation in 2020 is also predicted to 1.8% from 1.5% in 2019. A further decrease in the unemployment rate in Germany is expected – to 4.9% this year and 4.8% next year.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
The Dollar traded lower earlier on Friday in Asia, continuing its descent from the previous session as the U.S. struggles to curb the rapid increase of COVID-19 cases in the country. In addition, recent data showing an unexpected rise in unemployment ...
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