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 (28 June 2016)
Jun 28, 2016: The price-adjusted gross domestic product of Eastern Germany (including Berlin) will grow by 1.7 percent in 2016 and by 1.3 percent in 2017. In the Free State of Saxony real economic output is expected to rise by 1.8 percent this year and to grow at the marginally slower rate of 1.5 percent in 2017. Strong domestic demand, and especially private consumption, continues to boost the economy. Further positive stimuli include refugee migration, as well as rising demand from German manufacturing over the course of the year. Against this background, levels of employment will continue to rise in the Eastern German and Saxon labour market. Details