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The German Council of Economic Experts has revised its growth forecast for 2021 downwards and expects a GDP growth of 3.1 % in Germany. In the euro area, the GCEE expects the GDP to grow by 4.1 % this year.
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Economic Outlook for 2020 and 2021 published: The German Council of Economic Experts expects the economy in Germany and the euro area to decline significantly due to the coronavirus pandemic by 6.5 % and 8.5 % in 2020, respectively.