Germany cuts growth forecast amid Iran conflict
The German Central Bank has lowered its economic growth forecast for Germany in 2026 due to the impacts of the war with Iran, now expecting growth of only 0.5%, down from the previous 0.6% forecast. The bank attributed this to rising energy prices and declining purchasing power, with expectations that the economy will begin to regain momentum after a few weak summer months. Germany also anticipates that inflation will remain high at around 2.9% this year, with a gradual decline expected in 2028.
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