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ifo Economic Forecast for Eastern Germany and Saxony Winter 2019: Eastern German Economy – Recession Canceled, Risks Remain

Author

Listed:
  • Niels Gillmann
  • Jannik Nauerth
  • Joachim Ragnitz
  • Jannik André Nauerth

Abstract

A recession has been canceled for the time being, but economic development is still overshadowed by risks. The industry has been recession since the beginning of 2019. Weak world trade and technological change in vehicle construction are putting a strain on industrial production, which is particularly noticeable in the automotive stronghold Saxony. On the other hand, consumer-related service providers and the construction sector are benefiting from the good domestic economic situation. Overall, the East German economy is expected to expand by 0.8 percent and 1.4 percent in 2019 and 2020, respectively. In the Free State of Saxony, the growth rates are likely to be 0.3 percent and 1.2 percent.

Suggested Citation

  • Niels Gillmann & Jannik Nauerth & Joachim Ragnitz & Jannik André Nauerth, 2020. "ifo Economic Forecast for Eastern Germany and Saxony Winter 2019: Eastern German Economy – Recession Canceled, Risks Remain," ifo Dresden berichtet, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 27(01), pages 11-16, February.
    • Handle: RePEc:ces:ifodre:v:27:y:2020:i:01:p:11-16
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