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.
Companies that use digital technologies are more likely to experience problems in meeting training needs.
While companies in Baden-Württemberg are increasingly investing in digital technologies such as information and communication technologies (ICT) over time, fewer and fewer of them are supporting their employees with further training measures. Assuming that the use of digital technologies in companies causes an increased need for further training among employees, various aspects of this correlation were examined in more detail on the basis of data from the IAB Establishment Panel Baden-Württemberg. Overall, it was found that around a tenth of companies in Baden-Württemberg expect problems in meeting the need for further training.
The weak growth of the previous quarter will continue in the fourth quarter of 2023. Adjusted for seasonal and working-day effects, the gross domestic product (GDP) is expected to grow by 0.2%. Together with the negative growth in the first two quarters of this year, this results in an annual growth rate of minus 0.4% for 2023.
These are the results of recent calculations by the Institute for Applied Economic Research (IAW) and the University of Hohenheim.
The weak growth of the previous quarter will continue in the fourth quarter of 2023. Adjusted for seasonal and working-day effects, the gross domestic product (GDP) is expected to grow by 0.2%. Together with the negative growth in the first two quarters of this year, this results in an annual growth rate of minus 0.4% for 2023.
In the first half of 2022, the proportion of companies in the state that were active in further training increased significantly by 13 percentage points to 48 per cent (previous year: 35 per cent). The proportion was thus once again above the national average of 42 per cent. However, the level from the year before the Covid 19 pandemic (2019: 56 per cent) has not yet been reached again.
