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Hard to estimate overall chip shortages impact on German economy - Minister

German Economy Minister Altmaier presents updated GDP growth forecast

BERLIN (Reuters) - German Economy Minister Peter Altmaier said on Tuesday it was hard to estimate how much growth a semiconductor shortage in the automobile industry would cost Europe's largest economy this year.

The Ifo economic institute said on Monday that supply bottlenecks with chips and other industrial components were holding back the recovery and dampening Germany's business outlook.

(Reporting by Michael Nienaber; Editing by Riham Alkousaa)