Despite slightly higher current and forecast growth rates, economic development in Baden-Württemberg remains subdued. There is still no sign of a consistent upward trend. According to the latest nowcast from the Institute for Applied Economic Research (IAW) and the University of Hohenheim, gross domestic product (GDP) - adjusted for seasonal and working-day effects - will increase at a growth rate of 0.4% in the second quarter of 2024 compared to the first quarter. However, this positive development may not be sustainable, as forecasts for the third and fourth quarters predict a temporary return to zero growth.
April 22, 2024: Online event "The Rural Area in Dialogue between Science and Practice" of the Rural Academy and the Ministry of Food, Rural Areas and Consumer Protection Baden-Württemberg
What influences economic development in rural areas of Baden-Württemberg (in German)?
No significant economic growth is expected in Baden-Württemberg in the first quarter of 2024 either. According to the latest nowcast from the Institute for Applied Economic Research (IAW) and the University of Hohenheim, gross domestic product (GDP) - adjusted for seasonal and working day effects - will only increase at a growth rate of 0.1% compared to the fourth quarter of 2023. The two subsequent quarters will also be characterised by low economic momentum, with the forecast growth rate moving only slightly upwards.
