Macro - Country Economic Forecasts - Germany

Macro - Country Economic Forecasts - Germany

The outlook for the German economy has deteriorated further. The latest data continue to point to a renewed technical recession in H2 2023, and higher oil prices will limit the expected rebound in real incomes and spending next year. We've cut our GDP forecasts by 0.1ppt to a 0.5% contraction in 2023 and by 0.1ppt to a 0.3% expansion in 2024.