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Ifo Economic Forecast 2015/2016: German Economy on the Upturn

Author

Listed:
  • Timo Wollmershäuser
  • Wolfgang Nierhaus
  • Tim Oliver Berg
  • Christian Breuer
  • Johanna Garnitz
  • Christian Grimme
  • Steffen Henzel
  • Atanas Hristov
  • Nikolay Hristov
  • Wolfgang Meister
  • Felix Schröter
  • Andreas Steiner
  • Elisabeth Wieland
  • Klaus Wohlrabe
  • Anna Wolf

Abstract

The German economy is currently experiencing a sharp upturn. Real domestic product is expected to expand by 1.9% this year and by 1.8% in 2016. Private consumption remains the driver behind the upturn since the revenue outlook of private households is good due to continued improvements in the labour market. However, purchasing power gains thanks to falling oil prices are gradually fading, which is expected to weaken the consumption dynamic slightly over the forecasting period. Corporate investments will grow in an extremely favourable financial environment. The construction boom also looks set to continue. The depreciation of the euro is expected to stimulate exports through the second half of this year. The world economy will subsequently cool down slightly over the course of 2016 and will curb growth in exports. Imports will increase somewhat more quickly than exports due to strong domestic demand. Overall, demand-side impulses will come from the domestic economy just like last year.

Suggested Citation

  • Timo Wollmershäuser & Wolfgang Nierhaus & Tim Oliver Berg & Christian Breuer & Johanna Garnitz & Christian Grimme & Steffen Henzel & Atanas Hristov & Nikolay Hristov & Wolfgang Meister & Felix Schröte, 2015. "Ifo Economic Forecast 2015/2016: German Economy on the Upturn," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 68(12), pages 22-62, June.
    • Handle: RePEc:ces:ifosdt:v:68:y:2015:i:12:p:22-62
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    Citations

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    Cited by:

    1. Stefan Sauer & Arno Städtler, 2015. "Investment Growth Remains Moderate - Leasing Expands at Slower Pace," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 68(18), pages 67-70, September.
    2. Thomas Strobel & Arno Städtler, 2015. "Investments and Leasing Continue to See Moderate Growth," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 68(13), pages 52-55, July.

    More about this item

    JEL classification:

    • F00 - International Economics - - General - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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