Markets Actual Q2 Q3 Q4 Q1 2022
Currency 1.19 1.19 1.18 1.18 1.17 1.16
Stock Market (points) 15257.18 14847 14499 14160 13828 13166
Government Bond 10Y (%) -0.31 0.03 0.07 0.1 0.14 0.23

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 0.30 1.7 2.5 0.9 0.6 0.5
GDP Annual Growth Rate (%) -3.70 9.2 4.9 2.5 4.4 3.6
Unemployment Rate (%) 4.50 5.1 4.9 4.2 4 3.7
Inflation Rate (%) 1.70 1.5 1.5 1.6 1.8 1.7
Inflation Rate Mom (%) 0.50 0.4 0.4 0.5 0.4 0.7
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 18100.00 17600 1800 6800 3800 4600
Current Account (EUR Million) 18800.00 18900 22500 19100 24900 18500
Current Account to GDP (%) 7.10 6.8 6.8 6.8 6.2 6.2
Government Debt to GDP (%) 59.80 72 72 72 69 69
Government Budget (% of GDP) -4.80 -2 -2 -2 0.8 0.8
Business Confidence (points) 96.60 99 97 100 101 104
Services PMI (points) 51.50 54.7 53.2 53 53.6 54.5
Manufacturing PMI (points) 66.60 55 53.6 52 54 54.8
Consumer Confidence (points) -6.20 1 5.1 6.4 7 7.5
Retail Sales MoM (%) 1.20 0.9 -1.2 0.5 1 0.6
Corporate Tax Rate (%) 30.00 30 30 29.79 30 30
Personal Income Tax Rate (%) 45.00 45 45 47.5 45 45

GDP Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 0.30 1.7 2.5 0.9 0.6 0.5
GDP Annual Growth Rate (%) -3.70 9.2 4.9 2.5 4.4 3.6
GDP (USD Billion) 3845.63 3700 3700 3700 4000 4000
GDP Constant Prices (EUR Billion) 779.98 759 782 783 799 828
Gross National Product (EUR Billion) 875.90 849 875 916 898 930
Gross Fixed Capital Formation (EUR Billion) 166.53 163 173 162 171 177
GDP per capita (USD) 47628.00 47200 47200 47200 48100 48100
GDP per capita PPP (USD) 53815.40 52600 52600 52600 53200 53200
GDP From Agriculture (EUR Billion) 5.10 5.52 6.39 6.31 5.23 5.42
GDP From Construction (EUR Billion) 53.37 36.64 48.54 48.13 54.71 56.68
GDP From Manufacturing (EUR Billion) 159.91 150 141 181 164 170
GDP From Public Administration (EUR Billion) 156.81 143 149 153 161 167
GDP From Services (EUR Billion) 121.32 113 119 133 124 129

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 4.50 5.1 4.9 4.2 4 3.7
Employed Persons (Thousand ) 44453.00 43000 42250 42500 43000 44100
Unemployed Persons (Thousand ) 2827.45 3160 3050 3000 2900 2890
Unemployment Change (Thousand) -8.00 55 -36 -40 -22 -30
Long Term Unemployment Rate (%) 1.10 2.3 2.2 2.1 1.7 1.6
Youth Unemployment Rate (%) 6.10 6.4 6.7 7.4 5.8 5.5
Labour Costs (points) 111.90 113 118 122 114 116
Productivity (points) 99.50 94 97 99 100 102
Job Vacancies (Thousand) 609.15 510 590 680 700 720
Wages (EUR/Month) 4033.00 4061 3903 4113 4093 4171
Wages in Manufacturing (points) 102.10 102 102 121 103 105
Wage Growth (%) 0.40 0.9 1.4 1.5 1.7 1.9
Minimum Wages (EUR/Hour) 9.50 9.5 9.6 9.6 9.82 10.45
Population (Million) 83.17 83.84 83.84 83.84 84.17 84.17
Retirement Age Women 65.75 65.83 65.83 65.83 65.92 65.92
Retirement Age Men 65.75 65.83 65.83 65.83 65.92 65.92
Labor Force Participation Rate (%) 62.60 61 61.5 61.7 61.9 62.5
Employment Change (%) 0.00 0.4 0.5 0.6 0.7 0.5
Employment Rate (%) 76.40 74.7 74.9 75 75.4 76

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 1.70 1.5 1.5 1.6 1.8 1.7
Inflation Rate Mom (%) 0.50 0.4 0.4 0.5 0.4 0.7
Consumer Price Index CPI (points) 107.50 108 108 111 107 109
Harmonised Consumer Prices (points) 107.90 108 108 111 107 109
Core Consumer Prices (points) 106.90 107 108 110 108 110
Core Inflation Rate (%) 1.40 1.2 1.1 1.4 1.5 1.7
Producer Prices (points) 106.90 106 105 111 107 109
Producer Prices Change (%) 1.90 1.7 1.5 1.8 1.9 2.5
Import Prices (points) 101.80 105 104 105 106 109
Food Inflation (%) 1.40 1.4 1.3 1.5 1.5 1.7
CPI Housing Utilities (points) 106.90 108 107 110 107 109
CPI Transportation (points) 108.80 107 106 113 106 107

Money Actual Q2 Q3 Q4 Q1 2022
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.54 -0.54 -0.54 -0.54 -0.54 -0.54
Money Supply M2 (EUR Billion) 3470.40 3700 3810 3720 3640 3700
Foreign Exchange Reserves (EUR Million) 209400.00 225000 234000 236000 232000 234000
Banks Balance Sheet (EUR Billion) 9207.73 9510 9480 9460 9320 9250
Loans to Private Sector (EUR Billion) 1623.41 1880 1910 1900 1850 1750
Private Debt to GDP (%) 159.90 163 163 163 159 159
Central Bank Balance Sheet (EUR Billion) 2472.30 2500 2650 2970 2890 2860

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (EUR Million) 18100.00 17600 1800 6800 3800 4600
Current Account (EUR Million) 18800.00 18900 22500 19100 24900 18500
Current Account to GDP (%) 7.10 6.8 6.8 6.8 6.2 6.2
Imports (EUR Million) 89700.00 87600 83200 91900 92600 95900
Exports (EUR Million) 107800.00 89400 109900 95700 111500 100500
External Debt (EUR Million) 5512138.00 5691000 5745000 5820000 5790000 5890000
Capital Flows (EUR Million) 27559.80 9500 14500 12500 16900 19500
Foreign Direct Investment (EUR Million) 18881.08 2300 4500 5200 6600 3600
Gold Reserves (Tonnes) 3362.45 3400 3400 3400 3400 3400
Tourist Arrivals (Thousand) 171.39 2100 2900 2250 1510 2700

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (%) 59.80 72 72 72 69 69
Government Budget (% of GDP) -4.80 -2 -2 -2 0.8 0.8
Government Budget Value (EUR Billion) -68.41 -17 -19 6 -13 11
Government Spending (EUR Billion) 169.81 176 178 179 177 181
Government Spending to GDP (%) 45.40 46 46 46 44 44
Government Revenues (EUR Billion) 370.02 377 372 402 390 422
Government Debt (EUR Million) 2171816.89 2250000 2270000 2220000 2260000 2220000
Fiscal Expenditure (EUR Billion) 438.43 396 404 415 390 411

Taxes Actual Q2 Q3 Q4 Q1 2022
Corporate Tax Rate (%) 30.00 30 30 29.79 30 30
Personal Income Tax Rate (%) 45.00 45 45 47.5 45 45
Sales Tax Rate (%) 19.00 19 19 19 19 19
Social Security Rate (%) 40.01 40.01 40.01 40.21 40.01 40.01
Social Security Rate For Companies (%) 19.88 19.88 19.88 19.43 19.88 19.88
Social Security Rate For Employees (%) 20.13 20.13 20.13 20.78 20.13 20.13

Business Actual Q2 Q3 Q4 Q1 2022
Business Confidence (points) 96.60 99 97 100 101 104
Services PMI (points) 51.50 54.7 53.2 53 53.6 54.5
Manufacturing PMI (points) 66.60 55 53.6 52 54 54.8
Composite PMI (points) 57.30 54.9 53.3 53 53.7 54.8
Industrial Production (%) -6.40 15.1 5.8 4.5 3 2.8
Industrial Production Mom (%) -1.60 0.5 -0.8 0.6 0.8 0.4
Manufacturing Production (%) -6.30 17.8 6.4 5.1 4.5 3.8
Capacity Utilization (%) 81.80 84 85 88 87 87
Factory Orders (%) 1.20 0.5 -0.7 0.6 0.9 0.4
Bankruptcies (Companies) 1219.00 1550 1540 1750 1620 1690
Corporate Profits (EUR Billion) 172.05 169 166 165 168 171
Zew Economic Sentiment Index 76.60 30 11 5 12 9
Car Production (Units) 373900.00 174000 251000 234000 288000 255000
Car Registrations 292349.00 209000 187200 222000 232000 245000
Mining Production (%) 2.00 13.8 4.5 4.2 4.8 3.6

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) -6.20 1 5.1 6.4 7 7.5
Retail Sales MoM (%) 1.20 0.9 -1.2 0.5 1 0.6
Retail Sales YoY (%) -9.00 4.4 5.2 4.8 3.6 3
Consumer Spending (EUR Billion) 401.38 403 409 424 411 426
Disposable Personal Income (EUR Billion) 517.26 485 546 528 530 549
Personal Savings (%) 17.70 14.2 13 12 12.5 11.5
Consumer Credit (EUR Million) 235153.00 227967 257586 245779 241032 249709
Private Sector Credit (EUR Million) 3256405.00 3290000 3280000 3280000 3315439 3360000
Bank Lending Rate (%) 2.00 2 2 2 2 2
Households Debt To GDP (% of GDP) 57.70 65 65 65 62 62
Households Debt To Income (%) 84.70 91 91 91 88 88
Gasoline Prices (USD/Liter) 1.78 1.62 1.54 1.34 1.39 1.32

Housing Actual Q2 Q3 Q4 Q1 2022
Construction Output (%) -9.20 11.5 3.8 3.8 4.6 3.7
Housing Index (points) 191.56 200 198 194 189 190
Home Ownership Rate (%) 51.10 50.9 50.9 50.9 50.4 50.4
Building Permits 24351.00 22800 20200 26400 29600 30400
Construction PMI (points) 47.50 54.5 53.2 52.5 53.8 54.5
Construction Orders (%) 1.50 4 2.7 4.5 3.6 2.9


This page has economic forecasts for Germany including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Germany economy.