German government expects recession in 2023 – Reuters
|The German government expects the Gross Domestic Product (GDP) to contract by 0.4% in 2023, Reuters reported on Thursday, citing a source who has knowledge of provisional figures of the government's autumn projections.
The government is also said to lower the 2022 growth forecast to 1.4% while projecting inflation at 7.9% and 8% in 2022 and 2023, respectively.
A spokesperson for the German economy ministry noted that figures were not finalized and that they would present the latest projections next week.
Market reaction
The EUR/USD pair showed no immediate reaction to this headline and was last seen posting small daily losses at 0.9870.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.