Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Germany is heading for a recession in coming months, with the economy likely to shrink by 0.3% in 2023, the Munich-based Ifo Institute said Monday. More dramatically, Ifo sees German inflation averaging 8.1% across the whole of 2022, but rising to an average annual level of 9.1% across 2023, with prices rising above 11% in the first quarter (See MNI: EC Fears Govts Undermining ECB Inflation Fight-Officials).
“We don’t expect a return to normal until 2024, with 1.8 percent growth and 2.5 percent inflation,” Timo Wollmershauser, Ifo’s Head of Forecasts said.
The forecasts, published in the Ifo Autumn forecast round, paint a gloomy picture for the European Central Bank policymakers, with growth seen lower and inflation even high than in previous forecast rounds. In the ECB’s quarterly projections published last Thursday, growth is seen slowing across the eurozone to 0.9% in 2023, with inflation actually slowing to 5.5% from 8.1% in 2022 (See MNI STATE OF PLAY: ECB Frontloads With 75bp Hike, More Coming).
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.