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Berlin Konjunktur

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Headwind for the Economy

Berlin’s economy can look back on a positive 2018 in which it managed to thrive despite a harsh international climate. The decline in foreign trade due to international uncertainty was absorbed by a strong domestic economy. Consumer spending in Berlin, the number of tourists as well as investments by public authorities and private companies have all risen. However, the economic cycle has reached its peak and Berlin’s economy is likely to slow down next year. That being said, Berlin’s growth in 2019, at just under 2%, is likely to remain well above the national increase of 1.0%.

Continuing over-utilisation of capacities in Berlin’s economy will slow growth in the coming quarters. The shortage of skilled workers is increasingly weighing on the economy which has been expanding for a long time. This is particularly evident in the business services sector where employment growth was for a long time twice as high as in the economy as a whole and has now fallen to an average level of 3.5%. Capacity bottlenecks are also causing problems for the construction industry as can be seen by the record level of orders on hand.

 Berlin - Headwind for the Economy

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 Berlin: Headwind for the Economy

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