Economic output in NRW will shrink in 2023. In nominal terms economic output increased by 5.1 percent.
The largest decline of all economic sectors in the most populous federal state was recorded in the manufacturing sector. Economic experts in North Rhine-Westphalia are expecting a slight economic recovery this year. According to a recently published forecast, the RWI research institute expects GDP to grow by 0.3 percent in the year to 2023, according to the state statistical office IT.NRW.