Germany sees economy contracting by 0.4% this year – draft projections
Citing a source with knowledge of the projections on Friday, Reuters reported that Germany's government sees the economy contracting by 0.4% this year in its draft autumn projections.
“The economy is then expected to grow 1.3% next year and 1.5% in 2025,” the source said.
According to the source, “inflation is expected to come in at 6.1% this year and at 2.6% next year.”
German Economy Minister Robert Habeck is set to present the government's autumn forecast on Wednesday.
Market reaction
At the time of writing, EUR/USD is holding steady at around 1.0550, awaiting the US employment data.
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