BERLIN—Germany’s Ifo economic institute has cut its growth forecast for Europe’s largest economy for this year as supply chain disruptions and a scarcity of chips and other intermediate goods are slowing down the recovery from the COVID-19 pandemic.
The institute now sees Germany’s gross domestic product (GDP) growing 2.5 percent this year, down 0.8 percentage points from its previous forecast, and 5.1 percent next year, up 0.8 points.
