Dow Jones Newswires: German economy seen contracting in 2023 on persistent inflation, Ifo Institute says

Germany’s economy is expected to contract slightly this year, before a rebound in 2024, the Ifo Institute said Wednesday.

The country’s economic output is seen declining 0.1% in 2023, after a 0.2% fall in gross domestic product in the first three months, with consumer-related industries expected to suffer from high inflation, but manufacturing activity supporting growth, the economic-research organization said.

Germany’s…