Joint Economic Forecast Fall 2025

Fiscal stimulus masks structural weakness

The German economy is emerging from the trough and is likely to regain some momentum over the next two years.

Following stagnation in the first half of the year, the Joint Economic Forecast project group predicts gross domestic product growth of 0.2 percent for the current year in its fall report. In the next two years, an expansionary fiscal policy is likely to accelerate economic growth noticeably to 1.3 and 1.4 percent, respectively.  This means that the institutes' forecast for this year and next remains roughly unchanged from the spring report.

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 Energy. The Institute for Advanced Studies (IHS) takes part in the publication as the partner institute of RWI Leibnitz-Institute for Economic Research.