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 (16 December 2015)
Dec 16, 2015: Eastern Germany’s real economic output (including Berlin) will grow strongly by 1.6 percent this year and by 1.8 percent in the year ahead. Growth in Saxony of 1.9 percent in 2015 and 2.0 percent in 2016 is expected to be slightly higher than the Eastern Germany average. Domestic forces will continue to support the upswing, and especially private consumption. There will also be strong growth in public sector services over the forecasting period due to the migration of refugees. In all this, the increase in employment in the eastern German and Saxon labour market is expected to continue. Details