Economic outlook
Anticipated development / % | 2023 | 2024 (Mar forecast) | 2024 (Jul forecast) |
World trade | –0.6 | +1.5 | +2.5 |
GDP world | +2.7 | +2.5 | +2.5 |
GDP Eurozone | +0.5 | +0.5 | +1.0 |
GDP Germany | +0.0 | +0.0 | +0.0 |
As of May 2024. Forecast for 2024 rounded to nearest half percentage point.
Source: Oxford Economics
The global economy is again expected to grow moderately in 2024. Over the year to date, the main positive effects have been lower inflation and strong development in the USA and Asia. A moderate increase in 2024 is also expected in world trade, mainly due to a slight increase in demand while inventories remain low. The European Economic Area remains under strain from an increased price level and simultaneously high interest rates, especially in the industrial sector. In Germany, especially in the first half of 2024, development has been noticeably curbed by weak investments and private consumption. Stagnation is expected overall in 2024, with slight recovery effects expected at the end of 2024 at the earliest.