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Leading German economic institutes have slashed their growth forecast for 2021 as a slow vaccination rollout and a more contagious variant of the coronavirus have meant continuing restrictions on business activity
2021-04-15 14:36:11 GMT2021-04-15 22:36:11(Beijing Time) Xinhua English BERLIN, April 15 (Xinhua) -- Leading German economic research institutes are expecting an increase in the gross domestic product (GDP) of 3.7 percent in 2021, according to a joint spring forecast published on Thursday. The new wave of COVID-19 infections in Germany and the renewed shutdown was "delaying the economic recovery," and led to a downward revision of the 2021 forecast by one percentage point compared with the previous report in fall last year, the economic institutes said in a statement. "We expect a vigo...
By Reuters Staff 3 Min Read BERLIN (Reuters) - The German economy probably shrank by 1.8% in the first quarter because of COVID-19 restrictions, leading economic institutes said on Thursday as they revised their joint growth forecast for Europe’s largest economy. FILE PHOTO: Dark clouds hang over the financial district as the spread of the coronavirus disease (COVID-19) continues in Frankfurt, Germany, March 16, 2021. REUTERS/Kai Pfaffenbach/File Photo The revisions are the latest sign that the economy will need longer than initially thought to reach its pre-crisis level. A more contagious...
Germany expects gross domestic product to grow by 3.7% this year 13 hours ago Picture used for illustrative purpose. Germany’s economy minister expects the government to significantly raise the 2021 growth forecast for Europe’s largest economy after the country’s leading economic institutes revised their own estimates. “We’ll not only be able to stop the economic slump this year, we can reverse it and regain our old strength next year,” Peter Altmaier said on Thursday, adding he would present the government’s more optimistic growth outlook on April 27. In January...
[Photo: Lonza] advertisement advertisement In a mountain valley in the Swiss Alps, new production lines are spinning up to produce the key ingredient for hundreds of millions of doses of Moderna’s COVID-19 vaccine, which the Food and Drug Administration approved for emergency use in the U.S. on December 18. This type of factory would normally take years to build. But Lonza, the manufacturer, used a new approach that made it possible to finish the work in months. advertisement advertisement Lonza’s factory in the Swiss Alps. [Photo: Lonza]Two years ago, the company invested in a new concep...