German Economy to Grow 2.1 Percent in 2021, 4.9 Percent in 2022: DIW

By Reuters
Reuters
Reuters
September 16, 2021 Updated: September 16, 2021

BERLIN—The German economy will grow slower than expected this year as supply chain problems and shortages of raw materials keep a lid on the industrial recovery, but it should rebound strongly next year, the DIW economic institute said on Thursday.

The DIW trimmed its growth forecast for this year to 2.1 percent from a previous 3.2 percent, but predicted a jump of 4.9 percent in 2022 assuming production constraints lift towards the end of the year. It sees growth normalising at 1.5 percent in 2023.

Reuters