German central bank projects a recession in 2023

Germany’s central bank, the Bundesbank, said in its latest report, “a recession is now expected for Germany in 2023.”

Additional takeaways

But the downturn is not seen as severe.

Sees 2023 GDP growth at -0.5% vs. 2.4% previous.

Sees 2024 GDP growth at 1.7% vs. 1.8% previous.

Sees 2023 inflation at 7.2% vs. 4.5% previous.

Sees 2024 inflation at 4.1% vs. 2.6% previous.

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