German economy stabilized in the third quarter of 2019, IFO economic institute said in its winter forecast today. Overall, the average economic output for 2019 will expand by 0.5%; when adjusted for calendar effects, the growth is 0.6%. In the next year, gross domestic product will increase more strongly by 1.1%, although the calendar effect of 0.4 percentage points exaggerates the quite modest underlying business cycle dynamic. Economic momentum in the euro area is not expected to get any worse at this juncture, and it will take several quarters before there is a tangible recovery. Global output is expected to expand at average rates.
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