Video: Economic institutes expect more growth in the coming year

Strong growth, falling unemployment, lower public deficit: According to the leading economic institutes, the future federal government can count on an economic tailwind in its first year. The gross domestic product is expected to grow twice as fast in 2022 as this year, according to the researchers on Thursday in Berlin about their autumn forecast. Oliver Holtemöller from the Leibniz Institute for Economic Research: “What still characterizes the entire forecast is the pandemic situation in Germany and around the world. This is still having a variety of effects on economic activity not yet at a normal level. On the other hand, international supply chains are disrupted. ” // “We assume that normal capacity utilization will be reached again sometime in the course of 2022, and forecast that gross domestic product will increase by 2.4 percent in 2021 and 4.8 percent in 2022. And In doing so, we are reducing our forecast from the spring significantly downwards for the current year, but at the same time raising it significantly to the next year, for the year 2022, in the course of the then postponed recovery. ” In the spring, in their joint forecast for the federal government, the institutes only forecast growth of 3.9 percent for the coming year. Because of the acute material bottlenecks in the industry, the upturn in the year to come will be a bit smaller: an increase of 3.7 percent had been expected here so far. The main driver of the recovery in the coming year will be private consumption, which will pick up strongly. And: “Overall, we expect consumer prices to rise by 3 percent this year and then slowly decrease to 2.6 percent next year. And in the direction of 2023 we should then return to a normal average inflation rate.” The federal government must think more about social compensation in order to compensate for the unequal burdens on households due to climate change, in particular the price increases. “In particular, the measures that follow from climate protection lead to an unequal burden on households with price increases. Or at least households can adjust less or better to this new situation in view of different incomes. And it is important in the social market economy for the Acceptance of progress, of change, of structural change, that we accompany this phenomenon with social equilibrium. ” In 2023, Europe’s largest economy is forecast to grow by 1.9 percent. In 2020 it had shrunk by 4.6 percent because of the Corona crisis.

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