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German authorities have improved economic forecast for 2020


September, 01 2020
watermark Economic news

The German authorities have improved their forecast for the outlook for the economy in 2020 amid signs of effectiveness in efforts to support and stimulate Europe's largest economy.


The German central bank expects the country's GDP to contract by 5.8% this year, while back in April it was predicted that the economy would contract by 6.3%. At the same time, the new forecast still does not rule out the onset of one of the most significant economic recessions since the end of World War II.


Meanwhile, the forecast for next year was downgraded. Experts expect that the German economy in 2021 will grow by only 4.4%, while the previous forecast assumed growth of 5.2%. Also, the Ministry of Economy of the country notes that Germany, most likely, will not be able to achieve pre-crisis GDP indicators until early 2022.



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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.