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Twice a year the Ifo Institute publishes the Ifo Economic Forecast on the development of the German and the world economy for the current and the subsequent year. Additionally, the institute participates in the so-called Joint Economic Forecast of leading German economics institutes. The Euro-zone Economic Outlook is a joint initiative of three leading European economic institutes (Ifo Institute in Munich, INSEE in Paris and Istat in Rome) to produce short-term forecasts for GDP, consumption, industrial production and inflation in the euro zone (quarterly). A European economic forecast is presented once a year in the Report on the European Economy by the EEAG (European Economic Advisory Group at CESifo)

Latest releases

  1. Joint Economic Forecast Autumn 2015

    German Economy Stable but Needs Effective Policies to Nurture Growth

    Oct 8, 2015: The German economy is experiencing a moderate upturn. Gross domestic product will increase by 1.8 percent in 2015 and in 2016 respectively. Growth will be driven by private consumption. In view of the world economy’s modest growth, exports are only expected to rise slightly, especially as the stimulating effect of the euro’s depreciation gradually starts to fade. There will be a more rapid expansion in employment, although unemployment is expected to grow slightly in 2016 as the large number of refugees currently arriving in Germany gradually impacts the labour market. Public budgets are expected to post a surplus of 13 billion euros in 2016. This will be significantly lower than the surplus of around 23 billion euros forecast for 2015, mainly due to additional expenditure related to tackling the influx of refugees. Details

  2. Eurozone Economic Outlook October 2015

    Recovery driven by domestic demand

    Oct 6, 2015: Real domestic product in the Eurozone expanded by 0.4% in Q2, in line with our previous forecast. In the second half of 2015, real GDP is expected to expand at a moderate pace (+0.4% in Q3 and +0.5% in Q4). Primarily driven by domestic demand, growth is set to accelerate from +0.9% in 2014 to +1.6% in 2015. Details

  3. Eurozone Economic Outlook July 2015

    Recovery Spreading

    Jul 7, 2015: In Q1 2015, economic activity in the Eurozone sustained its growth momentum (+0.4%). Real domestic product is set to grow at a similar pace in Q2 (+0.4%) and accelerate slightly through the end of 2015 (+0.5% in Q3 and Q4), mainly driven by domestic demand. Growth is expected to average +1.4% in 2015, after +0.9 % in 2014. Details

  4. Ifo Economic Forecast for Eastern Germany and Saxony 2015/2016 (2 July 2015)

    Eastern German Economy Enjoys Sustained Growth

    Jul 2, 2015: Real gross domestic product in eastern Germany (including Berlin) is expected to rise sharply by 1.8 percent this year and by 1.6 percent in 2016. In Saxony economic growth looks set to be slightly higher at 2.0 percent this year and 1.8 percent in 2016. Private consumption will remain the main economic driver in both years. Positive impulses, however, will also come from a continued upturn in demand for capital goods. Eastern German and Saxon labour demand stands to benefit from the sustained economic expansion, although growth dynamics look set to weaken. The minimum legal wage and precarious demographic developments will curb increases in employment by companies. The shortage of qualified staff in some areas is becoming increasingly obvious. Details

  5. Ifo Economic Forecast 17 June 2015

    Ifo Economic Forecast 2015: German Economy on the Upturn

    Jun 17, 2015: The German economy is currently experiencing a sharp upturn. Real domestic product is expected to expand by 1.9% this year and by 1.8% in 2016. Private consumption remains the driver behind the upturn since the revenue outlook of private households is good due to continued improvements in the labour market. However, purchasing power gains thanks to falling oil prices are gradually fading, which is expected to weaken the consumption dynamic slightly over the forecasting period. Corporate investments will grow in an extremely favourable financial environment. The construction boom also looks set to continue. The depreciation of the euro is expected to stimulate exports through the second half of this year. The world economy will subsequently cool down slightly over the course of 2016 and will curb growth in exports. Imports will increase somewhat more quickly than exports due to strong domestic demand. Overall, demand-side impulses will come from the domestic economy just like last year. Details

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