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Subject Dossier

Economic Outlook

Our most recent forecasts for Germany, the Euro Area and the World Economy as well as current commentary on economic and macroeconomic issues for various economic areas.

Economic Outlook Germany

GERMANY

Economic Outlook Euro-Area

EURO AREA

Economic Outlook World

WORLD

Key Indicators | GERMANY

March 2023

Shaded: Kiel Institute forecast

  2021 2022 2023 2024
Gross domestic product (GDP), volume 2.6 1.8 0.5 1.4
Gross domestic product, deflator 3.1 5.5 6.2 2.2
Consumer pricesVerbraucherpreise 3.1 6.9 5.4 2.1
Labor productivity (per hour worked) 0.9 0.4 0.2 0.3
Employment (1000 persons) 44,980 45,570 45,885 45,827
Unemployment rate (percent) 5.7 5.3 5.4 5.2
in relation to nominal GDP      
Public sector net lending -3.7 -2.6 -2.1 -1.4
Gross public debt 68.6 66.4 64.3 63.5
Current account balance 7.4 3.8 5.6 5.6
GDP, consumer prices, labor productivity: percentage change on previous year; unemployment rate: as defined by the Federal Employment Agency.
Source: Federal Statistical Office, Fachserie 18, Series 1.2; Federal Employment Agency, Monthly Bulletin; Federal Employment Agency, Employment Statistics; shaded: Kiel Institute forecast.

Key Indicator | EURO AREA

March 2023
Shaded: Kiel Institute forecast

  2021 2022 2023 2024
Gross domestic product (GDP), volume 5.2 3.5 1.1 1.6
Consumer prices 2.6 8.3 5.5 2.6
Unemployment rate (percent) 7.8 6.7 6.8 6.8
in relation to nominal GDP      
Public sector net lending -5.1 -3.7 -4.2 -3.5
Current account balance 2.4 -0.9 0.7 1.3
GDP, consumer prices: percentage change on previous year. Source: Eurostat; Shaded: Kiel Institute forecast.

Key Indicator | WORLD

March 2023
Shaded: Kiel Institute forecast.

Real GDP and consumer prices in selected countries and regions, 2022–2024

  Gross domestic product Consumer prices
  2022 2023 2024 2022 2023 2024
United States 2.1 0.8 1.0 8.0 4.4 2.8
Japan 1.0 0.7 1.6 2.5 2.7 1.9
Euro Area 3.5 1.1 1.6 8.4 5.4 2.6
United Kingdom 4.0 -0.1 1.4 9.2 7.9 3.8
Advanced economies 2.9 0.9 1.6 8.1 5.3 2.9
China 3.1 5.2 5.2 2.0 2.8 2.7
Latin America 3.7 0.8 1.4 16.6 17.5 18.0
India 6.7 5.9 6.9 6.7 5.9 5.5
East Asia 5.0 4.5 5.0 5.2 3.0 2.7
Russia -2.1 -0.4/td> 1.2 13.8 15.4 15.3
Africa 4.4 3.2 3.4 13.4 15.4 15.3
World economy 3.2 2.5 3.2 9.4 7.6 5.9
             
Addenum: World trade volume 3.2 1.2 2.7 . . .
Oil price (Brent in USD/Barrel) 98.7 82.0 77.4 . . .
World economy, weighted according to GDP at 2021 market exchange rates 3.0 2.1 2.7 8.1 6.2 4.6
Weighted according to GDP at 2021 PPP rates. — East Asia: Emerging Asia excluding China and India. — Shaded: Kiel Institute forecast.

Joint Economic Forecast

  1. Economic Outlook

    World Economy Autumn 2022: Global growth falters

    Kiel Institute Economic Outlook World
    09/2022

    KKB 93: In spring 2022, world economic growth came to a standstill amid high inflation, persistent supply bottlenecks and elevated uncertainty.

    ...

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