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Germany: economists, Covid will restrain the growth

Five Sages, stagnation in the 4th quarter; DIW, much uncertainty

30 November, 18:43
(ANSA) - BERLIN, NOV 30 - "The Omicron variant will not act as an economic killer, but it will certainly slow down the recovery." During a panel organized by Reuters, Monika Schnitzer, one of Germany's Five Sages of Economy, said.

"Maybe we will not go towards a complete lockdown, but we will still have a strengthening of the measures, and therefore the GDP forecasts (+2.6% and +4.6% for this year and next year) will be downgraded." DIW President Marcel Fratzscher is not so optimistic. "The truth is that we don't know what will happen. Of course, I hope we won't end up in a recession, but estimates are always just based on scenarios, analyses that stand on 'what if...then.' What happens, moreover, will depend not only on Germany but on what happens in the rest of the world." (ANSA).

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