Timo Wollmershaeuser, Deputy Director of the ifo Center for Macroeconomics and Surveys, speaks with journalists after a press conference given by leading economic institutes to present their growth forecasts for Germany, on April 1, 2026 in Berlin, Germany. Leading economic institutes more than halved their growth forecasts for Germany, warning that the energy shock caused by the Middle East war would hit Europe's top economy hard. A group of leading institutes slashed their joint growth forecast for 2026 to 0.6 percent, down from a September 2025 prediction of 1.3 percent. Inflation is now forecast to rise to 2.8 percent, up from 2.0 percent, "weighing on household purchasing power". (Photo by John MACDOUGALL / AFP via Getty Images)