IPAG: 2023 GDP growth forecast down 0.2 pp to 1%

The Institute for Economic Forecasts and Analyses (IPAG) has revised down its GDP growth forecast for 2023 to 1% from the earlier estimate of 1.2%. The August estimates and projections by IPAG suggest a Q1 GDP growth of 3.8%, followed by a 2% decline in Q2, a 1.8% growth in Q3, and a 1.1% growth in Q4.