BERLIN (Reuters) – German economic institute Ifo raised its 2020 economic output forecast due to a “surprisingly positive development” in the past few weeks, Der Spiegel magazine reported on Friday, citing the institute’s chief economist.
Germany’s gross domestic product will likely shrink by 5.1% this year, Ifo’s Timo Wollmershaeuser was quoted as saying, revising a forecast of -6.7% it had given a few weeks ago.
(Reporting by Riham Alkousaa; editing by Thomas Seythal)
