Nach einer zweijährigen Rezession verzeichnete Österreich 2025 ein moderates Wirtschaftswachstum von 0,7 %. Der Start in das Jahr 2026 verlief positiv. Der am 28. Februar ausgebrochene Nahost- Krieg und die in Folge gestiegenen Energiepreise bringen jedoch erneut große Unsicherheit mit sich...

Die deutsche Wirtschaft hatte sich zum Ende vergangenen Jahres hin stabilisiert; viele Konjunkturindikatoren entwickelten sich positiv. Die Wachstumschancen für 2026 und 2027 wurden aufgrund der von der Koalitionsregierung auf den Weg gebrachten fiskalpolitischen Ausgabenprogramme und...

Austria's economy is recovering over the projection period from a recession that, according to the revised National Accounts, proved comparably severe to Germany's. The rebound is driven by private consumption, while foreign trade in goods continues to contract for the time being. Residential...

This paper describes the Quarterly Macro Forecasting Framework (QMFF), which is a novel approach to macroeconomic policy analysis and forecasting. At the core of this framework is a Quarterly Projection Model, with main behavioral equations quantified as deviations of real variables from their...

This paper develops a nowcasting model to produce timely estimates of quarterly GDP growth for Kenya. Nowcasting combines official monthly indicators with digital transaction data. Exploiting strong comovement of macroeconomic time series, a few latent factors summarize aggregate dynamics and...

The paper describes QMPM, the Quarterly Projection Model for the Bank of Algeria that underpins the Bank’s Forecasting and Policy Analysis System. The model is designed to capture the key features of the economy, including the importance of the hydrocarbon sector, sizable fiscal policy...

After three years of subdued economic activity, the German economy is on the road to recovery. While the Iran war and erratic U.S. trade policy are weighing on growth, their impact is only moderate. Although the U.S. Supreme Court has ruled that U.S. tariffs are unlawful, this does not change...

Histogram forecasts of inflation and growth from the US Survey of Professional Forecasters (SPF) allow for an assessment of the evolution of forecast uncertainty. However, this assessment is complicated by structural breaks in measured uncertainty arising from changes in histogram bin widths...

Growth in potential output is expected to drop from 2.3% in 2025 to 1.2% in 2026 given slowing population growth, US tariffs and trade policy uncertainty. It is then estimated to pick up to an average of 1.5% over 2027-29 as strengthening business and government investment supports trend labour...

We present the annual update of the Bank of Canada staff estimates for global potential output growth. Growth in global potential output is expected to remain broadly stable over the projection horizon at just above 3%, underpinned by the general strength in trend productivity growth, including...

Nach gutem Start der deutschen Wirtschaft in dieses Jahr hinein haben sich seit Ende Februar durch den Irankrieg, insbesondere durch die Sperrung der Straße von Hormus und der damit verbundenen Energieverteuerung, die Perspektiven für Wachstum und Inflation deutlich verschlechtert. Die...

We elicit forecasts of how AI will affect the U.S. economy, comparing the beliefs of five groups: academic economists, employees at AI companies, policy researchers focused on AI, highly accurate forecasters, and the general public. The median respondent in each group expects substantial...

Die IW-Konjunkturampel wurde im Jahr 2015 entwickelt, um die Vielzahl von teilweise heterogenen Konjunkturinformationen systematisch zu bündeln und in einem aussagekräftigen Gesamtbild darzustellen. Mit diesem Verfahren werden für Deutschland, die USA, China, das Vereinigte Königreich und...

Inflationary dynamics underscore the need for advanced methodologies to enhance forecasting accuracy. This paper explores the potential of Artificial Intelligence (AI) in generating short-term inflation forecasts for Argentina during the 2023-2024 period. The methodology leverages OpenAI's...

Die deutsche Wirtschaft entwickelte sich im Winterhalbjahr 2024/25 weiterhin schwach, da sich im unsicheren Vorfeld der Neuwahlen im Februar 2025 die privaten Verbraucher und Unternehmen weiter zurückhielten, zudem gingen die Exporte weiter zurück. Bei der Neuwahl erhielt die Union die...

Using a large cross-country dataset covering over 150 countries and more than 10 macroeconomic variables, this study examines the consistency of IMF World Economic Outlook (WEO) forecasts with the full information rational expectations (FIRE) hypothesis. Similar to Consensus Economics forecasts,...

Global growth is projected at 3.3 percent both in 2025 and 2026, broadly unchanged from the October 2024 World Economic Outlook (WEO) forecast with an upward revision in the United States offsetting downward revisions elsewhere. The near-term outlook is characterized by divergent paths, while...

The German economy is stuck in a period of stagnation: Following two years of consecutive slight declines in GDP, growth is not expected for 2025 either. Weak exports, rising unemployment worries, and the resulting reserved private consumption and economic policy uncertainty are slowing the...

This paper focuses on identifying useful indicators for nowcasting GDP in Sweden. We analyze 35 monthly indicators spanning the period from 1993 to 2023. Additionally, we evaluate the group-wise performance of these indicators. The analysis is conducted using mixed-data sampling (MIDAS) and...

Austria's economy is recovering over the projection period from a recession that, according to the revised National Accounts, proved comparably severe to Germany's. The rebound is driven by private consumption, while foreign trade in goods continues to contract for the time being. Residential...

We provide a parsimonious setup for forecasting U.S. GDP growth and the unemployment rate based on a few fundamental drivers. This setup yields forecasts that are reasonably accurate compared with private-sector and Federal Reserve forecasts over the 1984-2019 and post-COVID-19 pandemic periods....