BERLIN, June 16 (Reuters) – The German economy will grow by a weaker than expected 3.3% this year as supply bottlenecks in manufacturing are holding back industrial output, the Ifo economic institute said on Wednesday.

The lower growth forecast for Europe’s largest economy represented a cut by 0.4 percentage points compared to the institute’s previous estimate from March, Ifo said.

For 2022, the institute raised its GDP growth forecast to 4.3% from 3.2% previously. (Reporting by Michael Nienaber Editing by Riham Alkousaa)