According to the issue of the newspaper Bild published today, Friday, German Economy Minister Robert Habeck anticipates a 0.4% recession and an 8% inflation rate in Germany in 2019.
The so-called “fall” forecast from the government, which is set to be released next Wednesday, was the basis for the German publication.
These predictions coincide with those made in the autumn report by five German institutions (DIW, IFO, IFW, IWH, and RWI), which was released on September 29.
The institutes predicted that the gross domestic product would decline by 0.4% in 2023 after increasing by 1.4% in 2022 and that inflation would increase to 8.8% the following year from 8.4% this year.
Bild reports that Habek anticipates a modest increase in the unemployment rate to 5.4% in 2023 from 2022’s 5.2%.
Next year, the German government anticipates a recession.
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