Joint Economic Forecast Spring 2024

Headwinds from Germany and abroad: institutes revise forecast significantly downwards

According to Germany’s five leading economic research institutes, the country’s economy shows cyclical and structural weaknesses.

In their spring report, they revised their GDP forecast for the current year significantly downward to 0.1 percent. In the recent fall report, the figure was still 1.3 percent. Expectations for the coming year are almost unchanged at 1.4 percent (previously 1.5 percent). However, the level of economic activity will then be over 30 billion euros lower due to the current weak phase.

Full report available here

About the Joint Economic Forecast

The Joint Economic Forecast is published twice a year on behalf of the German Federal Ministry for Economic Affairs and Climate Action. The Institute for Advanced Studies (IHS) takes part in the publication as the partner institute of RWI Leibnitz-Institute for Economic Research.