"Currently, an overall economic recession is unlikely. As for 2020, we expect the economic performance to increase by 1.1% - after an increase of 0.5% this year. We even slightly corrected the forecast for 2021 by a tenth of a percentage point to 1.5%. The German economy, however, remains divided. While the economic performance of domestically oriented service and construction businesses keeps growing, the industry is still facing a recession," Timo Wollmershäuser, head of economic forecasting at the ifo Institute.
In the "buildings" sector, an increase of 3.9% was registered for the current year. For 2020, a plus of 2.5% and for 2021 an increase of 1.5% have been forecast.
