Ifo Economic Forecast: East Germany and Saxony
The monitoring of economic activity has been one of the main tasks of Ifo Dresden since its founding in 1993. In recent years a system for economic forecasting has been developed using data from the Ifo Business Survey in eastern Germany and Saxony.
Twice a year since 2001 Ifo Dresden, in consultation with the business-cycle researchers at the Ifo Institute in Munich, have presented forecasts on the development of the economy and labour market in Saxony and since 2004 for all of eastern Germany. These forecasts are based on Ifo’s summer and winter economic forecasts for all of Germany. The forecasts are presented at a press conference and to the working group Konjunkturbeobachtung Sachsen and published in the journal ifo Dresden berichtet.
Ifo Economic Forecast for Eastern Germany and Saxony 2016/2017 (December 2016)
Dec 21, 2016: The eastern German economy is experiencing a moderate upturn. Price-adjusted economic output will increase by 1.6 percent in 2016 and 1.3 percent in 2017. In the Free State of Saxony price-adjusted gross domestic product is expected to grow by 1.7 percent this year and by 1.4 percent in 2017. The dynamic seen in recent months will nevertheless be curbed by the recent surge in international insecurity. Positive stimuli will come from the domestic economy, and especially from the consistently high level of residential construction activity, and strong consumption demand from both consumers and the public service sector. Details