KONTAN.CO.ID - BERLIN. Germany's leading economic institutes are slashing their 2022 growth forecast for Europe's biggest economy to 2.7% from 4.8% due to the impact of the war in Ukraine, two people familiar with the matter told Reuters on Tuesday. The five institutes - the RWI in Essen, the DIW in Berlin, the Ifo in Munich, the IfW in Kiel and Halle's IWH - are due to release their joint forecast on Wednesday, amid spiking inflation and expectations for a dip in growth. The institutes now see consumer prices jumping by more than 6% this year, compared with a previous forecast for 2.5%, issued in October 2021.
German Economic Institutes Slash 2022 GDP Forecast
KONTAN.CO.ID - BERLIN. Germany's leading economic institutes are slashing their 2022 growth forecast for Europe's biggest economy to 2.7% from 4.8% due to the impact of the war in Ukraine, two people familiar with the matter told Reuters on Tuesday. The five institutes - the RWI in Essen, the DIW in Berlin, the Ifo in Munich, the IfW in Kiel and Halle's IWH - are due to release their joint forecast on Wednesday, amid spiking inflation and expectations for a dip in growth. The institutes now see consumer prices jumping by more than 6% this year, compared with a previous forecast for 2.5%, issued in October 2021.