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Economic upswing is gathering pace

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Remarks by Ifo economist, Klaus Wolhrabe

  • German economy should grow 2.6% in Q2 vs Q1
  • Sees German economy growing 2.8% in Q3
  • Expectations in tourism, hospitality has exploded in May
  • High hopes for a good summer
  • Rising costs for raw materials are increasingly being passed on
  • Many companies are saying that they plan to hike prices

This follows the Ifo report earlier. I’m bolding the comments which are tied to inflation, as that may be something for the ECB to consider in case price rises stay the course.

Besides that, the message is one of optimism towards the outlook in 2H 2021 with many anticipating a summer reopening and travel across the region.

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