Konjunkturbericht Nordrhein-Westfalen 2018
The economic situation in North-Rhine Westphalia has improved considerably. In 2016 and in the first half of 2017 GDP grew at nearly the same rate as in Germany as a whole. The acceleration of growth is broadly based; almost all indicators improved. A favorable international environment spurs production in the manufacturing sector, even if it grows somewhat slower than in residual Germany. On the other hand, turnover in administrative and support service activities is growing faster compared to residual Germany. Overall, GDP is expected having grown by 2.4% in 2017. The forecast for 2018 is 2.2%. Thus, economic activity in North-Rhine Westphalia will grow at the same pace as in Germany. Growth in the manufacturing sector will gather momentum whereas expansion in services will cool down a bit in the wake of past high rates. The situation in the labor market is going to improve further. Unemployment rate is forecast to go down from 7.4% in 2017 to 7.1% in 2018.
Döhrn, R., G. Barabas and A. Fuest (2017), Konjunkturbericht Nordrhein-Westfalen 2018. RWI Konjunkturberichte, 68, 4, 23-37