Germany makes slight upgrade to economic growth forecast

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The German government has slightly raised its growth forecast for this year, with growth of 0.3% now expected. In February, the government had downgraded its forecast to just 0.2%. Economy Minister Robert Habeck said there are signs of a slight economic upturn in the course of the year, while inflation is expected to decline. The increase in consumer prices should fall from 5.9% last year to 2.4% in the current year, bolstering household purchasing power and helping private consumption recover. The German government is forecasting GDP growth of 1% in 2025. Business associations have called for significant relief for companies, and Habeck has spoken out in favor of a growth package. The pro-business Free Democrat Party recently caused a stir with demands for relief for the economy and restrictions on the welfare state, which was met with criticism from Chancellor Olaf Scholz's center-left Social Democrats.