Germany's economic institutes to lower 2021 GDP growth forecast to 3.7% – Reuters

Germany's economic institutes will revise their forecast for 2021 economic growth lower to 3.7% from 4.7% due to the fact that coronavirus-related restrictions remain in place longer than initially expected, Reuters reported on Wednesday, citing two sources.

The joint publication is expected to be released on Thursday, according to Reuters.

Market reaction

This headline doesn't seem to be having a significant impact on market sentiment. As of writing, Germany's DAX 30 Index was virtually unchanged on a daily basis at 15,230. Meanwhile, the EUR/USD pair was up 0.18% at 1.1968.