The German Industry Federation (BDI) said in a report on Thursday that the country's economy is expected to grow by 3.5% in 2022. The BDI noted the German GDP grew by 2.5% in 2021, APA reports citing Teletrader.
The report noted that the industry continues to be affected by supply chain disruptions. "The order books are full, but production is not keeping up with demand. Pandemic-related restrictions and delivery bottlenecks affect large parts of the economy," BDI President Siegfried Russwurm stated. "These bottlenecks will slow down industrial value creation in the years 2021 and 2022 by more than 50 billion euros each," he added.
Russwurm warned the Omicron variant of COVID-19 presents a risk to economic recovery and called for "more reliable" and timely data from the health authorities, claiming that would help end the pandemic sooner.