Joint Economic Forecast
Twice a year, in the spring and autumn, the Joint Economic Forecast Project Team prepares a report on the state of economic activity in the world and in the German economy.
Joint Economic Forecast Spring 2016
Apr 14, 2016: The German economy is experiencing a moderate upturn. Gross domestic product is expected to increase by 1.6 percent this year and by 1.5 percent in 2017. The upturn will be driven by private consumption, which will benefit from continued employment growth, sizeable increases in wage and transfer income and purchasing power gains thanks to lower energy prices. Fiscal policy will also be expansively oriented, partly due to rising costs related to refugee immigration. While investment in construction is also expected to expand markedly, corporate investment activity will remain subdued. Against a background of only gradual world economic recovery and strong domestic demand, no positive economic stimulus is expected from foreign trade. Public budgets will post significant surpluses in the forecasting period. Failing to use this room for manoeuvre to promote growth, as seen in recent years, is not a sustainable path. Details