German economy still robust

Economic forecast German economy still robust

The German economy remains robust in the face of the COVID-19 pandemic. The German Council of Economic Experts has forecast 3.1 per cent growth for the current year, with a stronger upswing expected the following year.

A man works on an engine in a Mercedes assembly plant.

The German Council of Economic Experts expects the economy to continue to recover over the coming months.

Photo: Alex Kraus/Bloomberg/Getty Images

The COVID-19 pandemic is also an enormous economic challenge. As a result, the German government is in constant contact with leading experts, including the German Council of Economic Experts, which has now published its latest economic forecast.

Return to pre-crisis level by the end of the year

After a drop in economic output in the first quarter of 2021, the economic recovery is expected to continue over the coming months. This presupposes that progress is made on the vaccination campaign, with the pandemic contained, which will make it possible to ease restrictions. Economic output could bounce back to the pre-crisis level by the end of the year. For 2021 the German Council of Economic Experts forecasts 3.1 per cent growth, which is expected to rise to 4.0 per cent in 2022.

You will find more information about the economic forecasts for 2021 and 2022 on the website of the German Council of Economic Experts.

The German Council of Economic Experts is an independent body that has advised the German government on economic policy matters since 1963. The five members of the Council are appointed by the Federal President for a five-year term on the basis of the recommendation of the German government. The Council publishes an annual economic report in addition to special reports and studies on selected issues.