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German Economy: Industry Struggles to Shake of the Crisis: DIW Economic Outlook

Author

Listed:
  • Claus Michelsen
  • Marius Clemens
  • Max Hanisch
  • Simon Junker
  • Laura Pagenhardt
  • Thore Schlaak

Abstract

The German economy remains weak as of the fourth quarter of 2019. However, although industrial production is continuing its downward trend, there are signs of a slow recovery. The manufacturing sector is likely to expand production gradually beginning in 2020; therefore, it is less likely the recession in the industry will affect the service sector and construction industry. These sectors are profiting from strong demand from private households, which is supported by the strong labor market and fiscal stimuli. Thus, after growing by 0.5 percent this year, GDP is likely to increase more strongly in 2020 and 2021, by 1.2 and 1.4 percent, respectively

Suggested Citation

  • Claus Michelsen & Marius Clemens & Max Hanisch & Simon Junker & Laura Pagenhardt & Thore Schlaak, 2019. "German Economy: Industry Struggles to Shake of the Crisis: DIW Economic Outlook," DIW Weekly Report, DIW Berlin, German Institute for Economic Research, vol. 9(49/50), pages 424-430.
  • Handle: RePEc:diw:diwdwr:dwr9-49-3
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    More about this item

    Keywords

    Business cycle forecast; ecoomic outlook;

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • F01 - International Economics - - General - - - Global Outlook

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