Germany cuts 2022 growth forecast to 3.6% on virus woes

The German government on Wednesday lowered its economic growth forecast for 2022 as an Omicron-fuelled surge in coronavirus cases holds back Europe's industrial powerhouse.

The country's gross domestic product is now estimated to expand by 3.6 percent, down from 4.1 percent in a previous forecast, with the economy ministry saying the start of the year "will still be subdued due to the coronavirus pandemic, especially in the service sectors".