Germany revises upward 2020 GDP forecast to -5.8%, weaker rebound in 2021 – sources

BERLIN, Sept 1 (Reuters) – The German government has revised upward its economic forecast for this year to a decline of 5.8% from a previously expected slump of 6.3%, two sources told Reuters on Tuesday.

For 2021, the government has revised downward its growth forecast for Europe’s largest economy to an expansion of 4.4% from its previous estimate of 5.2%, said two people with knowledge of the figures.

Economy Minister Peter Altmaier will present the updated outlook later on Tuesday (0900 GMT) after the economy suffered its worst peacetime recession in the first half of the year. (Reporting by Michael Nienaber; editing by Thomas Seythal)

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