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KfW Business Cycle Compass Eurozone

On the construction of the KfW Business Cycle Compass Eurozone: Starting point of our GDP forecast are the unadjusted results of several econometric models, that use a number of leading indicators to derive forecasts for average annual growth rates for the current and the following year, as well as a quarterly growth rate for the current quarter. In a process of intense discussions, these results are then reconciled with expert opinion that also takes into account qualitative factors that cannot be modelled. The result is a growth forecast for the Eurozone in line with our scenario for Germany and the world economy.

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September 2018 Economic performance is good, but risks have grown  (PDF, 92 KB, non-accessible)
June 2018 Euro area growth is losing momentum  (PDF, 74 KB, non-accessible)
March 2018 Euro area recovery continues  (PDF, 74 KB, non-accessible)
December 2017 Euro area is poised for more growth in 2018  (PDF, 92 KB, non-accessible)
September 2017 Upswing in the euro area is strengthening  (PDF, 119 KB, non-accessible)
June 2017 Investment is making a comeback in the euro area  (PDF, 92 KB, non-accessible)
March 2017 Euro area economy defies political risks  (PDF, 60 KB, non-accessible)
December 2016 Economy is navigating through calmer waters amid looming political shockwaves  (PDF, 56 KB, non-accessible)
September 2016 Euro Area two months after the Brexit vote – solid growth, but more divergence  (PDF, 174 KB, non-accessible)
July 2016 Germany and the euro area after Brexit: expected upturn will not now occur  (PDF, 127 KB, non-accessible)
June 2016 Investment shows signs of life  (PDF, 102 KB, non-accessible)
March 2016 Despite financial market volatility, the euro area recovery remains on track  (PDF, 72 KB, non-accessible)
December 2015 The ‘two’ is within reach  (PDF, 102 KB, non-accessible)
September 2015 Moderate upswing continues  (PDF, 32 KB, non-accessible)
June 2015 Broad-based growth in the Eurozone  (PDF, 96 KB, non-accessible)
March 2015 The Eurozone economy is slowly picking up pace  (PDF, 35 KB, non-accessible)
December 2014 Growth insufficient to boost employment and investment  (PDF, 98 KB, non-accessible)
October 2014 Eurozone economy: few signs of life  (PDF, 110 KB, non-accessible)