(ANSA-AFP) - FRANKFURT AM MAIN, 11 NOV - A panel of
economists who advise the German government said Wednesday
Europe's top economy will shrink less than feared in 2020
despite a resurgence in coronavirus cases, but warned of a
"fragile" recovery ahead. A "very strong" rebound in the summer
months prompted the so-called "Wise Men" panel to raise its
expectations for the German economy to a contraction of 5.1
percent, it said in a report. The decline is less severe than
the 6.5 percent fall in gross domestic product (GDP) the panel
predicted in June, and better than the government's own outlook
of a 5.5 percent decline. However, expectations for 2021 have
been lowered to a 3.7 percent expansion, as opposed to the 4.9
percent previously forecast. "Due to the sharp rise in the
number of infections, the economic situation remains fragile,"
said Lars Feld, chairman of the five "Wise Men" panel, which
includes two women. (ANSA-AFP).
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