Germany’s Ifo institute raises 2024 GDP forecast, says “new hope is emerging”

On the optimistic change, Ifo says that:

“The German economy is slowly working its way out of the crisis. New hope is now emerging. The second half of 2024 should be significantly better than the first. As the year progresses, the purchasing power of private households should continue to gain strength and the overall economic recovery should pick up speed as the consumer economy normalises.”

As for 2025, Ifo maintains their forecast for the German economy to grow by 1.5% next year.

This article was written by Justin Low at www.forexlive.com.