German central bank revises down 2022 GDP forecast to 1.9%

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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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