Ifo economist expects German GDP to stagnate in Q4

FILE PHOTO: A commuter train passes by the skyline of the financial district in Frankfurt
FILE PHOTO: A commuter train passes by the skyline of the financial district in Frankfurt, Germany, October 25, 2021. REUTERS/Kai Pfaffenbach/File Photo

November 24, 2021

BERLIN (Reuters) – The German economy, Europe’s largest, is on track to stagnate in the final quarter of this year as supply chain bottlenecks show no sign of easing up, Ifo economist Klaus Wohlrabe told Reuters on Wednesday.

Wohlrabe said a fall in Ifo’s business climate index in November gave the economic institute cause for concern, adding that the hospitality and tourism sectors face a tough few months ahead. Price rises would likely only ease from January, he said.

(Reporting by Patricia Uhlig; Writing by Paul Carrel, editing by Emma Thomasson)