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Germany’s IfW Forecasts Minimal 0.1% Growth in 2024 Economy

The Kiel-based IfW institute projects Germany’s economy to expand only 0.1% in 2024, with growth expected to accelerate to 1.3% by 2026.

Summary

Germany’s IfW institute forecasts that the country’s economy will grow just 0.1% in 2024, reflecting sluggish recovery prospects. However, the institute expects a gradual rebound, projecting economic expansion to reach 1.3% by 2026.

Terms & Concepts
  • Economic Growth Rate: A measure of the increase in a country’s output of goods and services over a specific period, usually expressed as a percentage of GDP.
  • IfW Institute: The Kiel Institute for the World Economy, a German research institute that provides economic analysis and forecasts.
  • GDP Forecast: An estimate of a country’s future gross domestic product based on economic indicators and models.