The leading economic research institutes expect an improved economic situation in Germany. They raised the economic forecast for the current year. Gross domestic product is now expected to grow by 0.3 percent. In autumn, the institutes had still expected a decline of 0.4 percent.
The economic setback in the winter half-year is likely to have been less severe than feared in the autumn, said Ifo economics chief Timo Wollmershäuser on Wednesday in Berlin. The decisive factor is a lower loss of purchasing power due to significantly falling energy prices.
However, the inflation rate will only drop slowly from 6.9 percent last year to 6.0 percent this year. According to the forecast, inflationary pressure will only ease in the coming year. The inflation rate will drop to 2.4 percent. According to the so-called joint diagnosis, the gross domestic product will increase by 1.5 percent in 2024.
This is prepared by four institutes twice a year, in spring and autumn. The Ifo Institute, the Kiel Institute for the World Economy, the Leibniz Institute for Economic Research Halle and the RWI – Leibniz Institute for Economic Research Essen are involved.
