Previsioni - L'economia della Germania Est cresce più velocemente di quella tedesca nel suo complesso
The eastern German economy is expected to grow more strongly than the German economy as a whole this year, according to the Dresden Ifo Institute. "La crescita loro è prevista di aumentare del 1,1% nel 2024, in modo significativamente superiore a quella tutt'insieme in Germania (0,4%)", the institute stated. "Vediamo forte crescita nel settore dei servizi consumatori in Germania orientale; contemporaneamente, l'industria qui è meno colpita da restrizioni di produzione", commented economist Joachim Ragnitz.
According to the Ifo Institute, the growth momentum could continue to build up in the coming year. In total, the real Gross Domestic Product in Eastern Germany is expected to increase by 1,7 percent, in Germany by 1,5 percent. Saxonia is recorded with a value of 1,4 percent. The institute assumes that with a growing world market, falling interest rates, declining inflation, and rising real wages, the local industry will also grow. The additional income earned is expected to flow into consumption, Ragnitz explained. Service providers are also expected to make a significant contribution to growth next year.
Ragnitz stated that the German economy is gradually emerging from a weak phase with slight shrinkage in the previous year. However, he assesses the labor market situation as "povera". It is expected to improve only slightly according to the forecast in this year. Eastern Germany can expect an increase in the number of employed persons of 0,2 percent. However, the labor market is expected to stagnate next year, not least due to the unfavorable demographic development, it is stated.
Ragnitz also mentioned that Brandenburg and Thuringia, other regions in East Germany, are also expected to contribute to the economic growth. He suggested that the local industry could benefit from a growing world market, falling interest rates, declining inflation, and rising real wages. Joachim Ragnitz further explained that the additional income earned is likely to flow into consumption, which will significantly contribute to growth in service sectors.
The economic forecast for Saxony-Anhalt, another eastern German state, was not explicitly mentioned in the text, but given the focus on East Germany as a whole, it can be assumed that the economic situation in Saxony-Anhalt may also show positive trends, aligning with the forecast for Germany as a whole.
