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)

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)

The sun rises behind a pylon and power lines in Frankfurt am Main, western Germany, on April 1, 2026. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

A bird flies past power line supports with the TV tower in the background near an industrial area in Frankfurt am Main, western Germany, on April 1, 2026. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

The sun rises behind a pylon and power lines with the European Central Bank's (ECB) headquarters seen in the background in Frankfurt am Main, western Germany, on April 1, 2026. (Photo by Kirill KUDRYAVTSEV / AFP via Getty Images)

Tuk tuk vehicles queue up to refuel with liquefied petroleum gas (LPG) at a fuel station in Phnom Penh on April 1, 2026. Cambodia's diesel price on April 1 reached double its level at the start of the Middle East war after the latest government increase, official figures showed, raising concerns among farmers ahead of ploughing season. (Photo by TANG CHHIN Sothy / AFP via Getty Images)

An employee pumps gasoline into the motorbike of a customer at a fuel station in Phnom Penh on April 1, 2026. Cambodia's diesel price on April 1 reached double its level at the start of the Middle East war after the latest government increase, official figures showed, raising concerns among farmers ahead of ploughing season. (Photo by TANG CHHIN Sothy / AFP via Getty Images)

An employee pumps gasoline into the vehicle of a customer at a fuel station in Phnom Penh on April 1, 2026. Cambodia's diesel price on April 1 reached double its level at the start of the Middle East war after the latest government increase, official figures showed, raising concerns among farmers ahead of ploughing season. (Photo by TANG CHHIN Sothy / AFP via Getty Images)