Handelsblatt Research Institute gives economic forecast

Dusseldorf The German economy is at the beginning of a recession that will last at least three quarters. This is what the Handelsblatt Research Institute (HRI) expects in its new economic forecast for Germany. According to the forecast, the German economy will still grow by 1.4 percent in the current year because the first half of the year was still quite good overall; for 2023, the HRI economists then expect a decline of 0.4 percent.

The recent recession was triggered by the energy shortage and the associated inflation. Inflation in Germany has skyrocketed since the start of the Ukraine war in February. While the inflation rate was 4.9 percent in January 2022, it was 7.9 percent in August.