German central bank revises down 2022 GDP forecast to 1.9%

Published by
DPA

Germany’s central bank said Friday that the consequences of the war in Ukraine were dragging on the nation’s gross domestic product (GDP), which would come in at around 1.9% in 2022. In December, the central bank had predicted a GDP increase of 4.2% in 2022. According to a forecast published by the Bundesbank on Friday, economic growth in 2023 would come in at roughly 2.4%, instead of the 3.2% it had previously announced. Bundesbank experts emphasized uncertainties surrounding future economic developments, mainly because of the Russian war in Ukraine. On the one hand, prices for energy raw mat…

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