Tip: Activate javascript to be able to use all functions of our website

KfW Business Cycle Compass Germany August 2019

News from 2019-08-27 / KfW Research

The German economy shrank by 0.1% in the second quarter. In the short term, there is little hope for improvement. Manufacturers in particular are struggling; their business and export expectations remain pessimistic. KfW Research therefore now expects average real growth of only 0.4% for the year 2019 and 0.6% for 2020 (previous forecast: 0.8% and 1.8%). With exacerbated trade conflicts and the increasing likelihood of a hard Brexit, the external headwinds will continue for now and hamper domestic investment activity.

KfW Business Cycle Compass Germany August 2019  (PDF, 183 KB, non-accessible)


KfW Research

KfW Group

Palmengartenstrasse 5-9

60325 Frankfurt




Economic Research

Economic Research

Economic development in Germany and around the world, studies on topics relevant to society such as environmental and climate protection, demography, globalisation, innovation and sustainability, impact of KfW promotional programmes.

Read more