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German economic research institute significantly downgrades Germany's 2026 economic growth forecast
On April 1st local time, Germany’s five major economic research institutes released their Spring Joint Economic Forecast report, indicating that the German economic recovery has significantly slowed due to the current Middle East situation causing energy price shocks. The report predicts that Germany’s economy will grow by 0.6% in 2026 and 0.9% in 2027, down by 0.6 and 0.4 percentage points respectively from last fall’s forecast. (CCTV News)