Bundesbank: German economy to shrink by 5.5% in 2020 vs. -7.1% seen in June
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The German economy is seen shrinking by 5.5% on a calendar-adjusted basis this year vs. a 7.1% drop seen in June, Bundesbank (Buba) said in a biannual update of its macroeconomic projections.
Additional highlights
“Expects the German economy to grow by 3.0% in 2021 vs 3.2% seen in June. “
“Bundesbank projects 2022 German growth at 4.5% vs 3.8% in June.”
“Bundesbank sees German HICP inflation at 1.8% in 2021 vs 1.1% seen in June and 1.3% in 2022 vs 1.6% seen in June.”
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