German IFO’s Economist: Economy to stagnate in Q1 2021 amid little confidence

Following the release of the final German IFO Business Survey, the institute’s Economist Klaus Wohlrabe said that the economy is starting the new year with little confidence.

Additional quotes

“We expect GDP stagnation in Q1.”

“Industry continues to be well-positioned, wants to make more, export expectations have risen.“

“Retail has collapsed.”

“Many service providers are also affected by lockdown, including transport and logistics.”