In a bi-annual monthly outlook prepared for the German Economy Ministry, the country’s leading research institutes have cut their joint 2021 growth forecast for Europe’s economic powerhouse to 3.7% from 4.7%, Bloomberg reports, citing a person familiar with its latest outlook to be published Thursday. Additional details “The outlook is prepared by the DIW, Ifo, IfW, IWH and RWI institutes and helps guide the government’s own forecasts and budget planning.” “The signs point to economic recovery” over the rest of this year. “The vaccination campaign, which is gaining momentum, and a strong global economy are fostering confidence.” “The government’s forecast is for growth of 3% this year, after a contraction of around 5% in 2020, and it expects a return to pre-pandemic levels in mid-2022.” Market reaction EUR/USD holds steady around 1.1980, slightly off the monthly peaks ahead of the US data and the German Economy Ministry’s report. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD: Three factors point to the downside FX Street 2 years In a bi-annual monthly outlook prepared for the German Economy Ministry, the country's leading research institutes have cut their joint 2021 growth forecast for Europe's economic powerhouse to 3.7% from 4.7%, Bloomberg reports, citing a person familiar with its latest outlook to be published Thursday. Additional details "The outlook is prepared by the DIW, Ifo, IfW, IWH and RWI institutes and helps guide the government's own forecasts and budget planning." "The signs point to economic recovery" over the rest of this year. "The vaccination campaign, which is gaining momentum, and a strong global economy are fostering confidence." "The government's forecast… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
