German economy to shrink slightly in 2023: leading institutes

BERLIN, June 15 (Xinhua) -- Two leading German economic institutes expect Europe's largest economy to shrink slightly in 2023, according to their forecasts published on Thursday.

The German Institute for Economic Research (DIW Berlin) predicts that the country's gross domestic product (GDP) will fall by 0.2 percent year-on-year, while the Kiel Institute for the World Economy (IfW Kiel) even lowered its outlook t