Markets Actual Q2 Q3 Q4 Q1 2021
Currency 1.13 1.13 1.12 1.12 1.11 1.11
Stock Market (points) 12847.68 12547 12253 11966 11686 11126
Government Bond 10Y (%) -0.27 0.03 0.06 0.09 0.12 0.2

Overview Actual Q2 Q3 Q4 Q1 2021
GDP Growth Rate (%) -2.20 -10.6 3.6 2 1.5 1.4
GDP Annual Growth Rate (%) -2.30 -11.4 -8.8 -6 -2 6.5
Unemployment Rate (%) 3.50 3.9 4.5 4.5 4.4 3.6
Inflation Rate (%) 0.60 -0.3 -0.2 0.3 1 1.3
Inflation Rate Mom (%) -0.10 -0.3 0.2 0.4 0.3 0.5
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 17355.00 17400 23900 9400 25600 6800
Current Account (EUR Million) 24400.00 14000 20800 17400 25200 19100
Current Account to GDP (%) 7.10 5.9 5.9 5.9 6.8 6.8
Government Debt to GDP (%) 59.80 75 75 75 72 72
Government Budget (% of GDP) 1.40 -7 -7 -7 -2 -2
Business Confidence (points) 79.50 78 85 90 94 100
Manufacturing PMI (points) 36.60 44 48 50 51 52
Services PMI (points) 32.60 40 45 49 52 53
Consumer Confidence (points) -18.90 -18 -2.2 -1.3 3.2 6.4
Retail Sales MoM (%) -5.30 -1.2 -0.4 0.2 1.1 0.5
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 45.00 45 45 45 45 45

GDP Actual Q2 Q3 Q4 Q1 2021
GDP Growth Rate (%) -2.20 -10.6 3.6 2 1.5 1.4
GDP Annual Growth Rate (%) -2.30 -11.4 -8.8 -6 -2 6.5
GDP (USD Billion) 4040.00 4070 4070 4070 4110 4110
GDP Constant Prices (EUR Billion) 793.41 779 788 763 778 812
Gross National Product (EUR Billion) 881.18 846 863 836 864 890
Gross Fixed Capital Formation (EUR Billion) 170.48 165 166 161 168 171
GDP per capita (USD) 47501.80 49500 49500 49500 50500 50500
GDP per capita PPP (USD) 45959.40 46900 46900 46900 43754 47500
GDP From Agriculture (EUR Billion) 6.74 7.02 7.17 6.22 6.61 6.62
GDP From Construction (EUR Billion) 38.78 40.55 44.09 46.32 48.29 49.33
GDP From Manufacturing (EUR Billion) 159.68 161 162 156 163 167
GDP From Public Administration (EUR Billion) 148.90 134 140 146 152 155
GDP From Services (EUR Billion) 115.74 123 124 121 126 129

Labour Actual Q2 Q3 Q4 Q1 2021
Unemployment Rate (%) 3.50 3.9 4.5 4.5 4.4 3.6
Employed Persons (Thousand ) 44866.00 45500 45500 45900 45900 46500
Unemployed Persons (Thousand ) 2812.99 2690 2690 2710 2710 2770
Unemployment Change (Thousand) 238.00 78 51 15 15 19
Long Term Unemployment Rate (%) 1.10 1.3 1.3 1.3 1.2 0.8
Youth Unemployment Rate (%) 5.30 5.5 5.5 5.5 5.4 5
Labour Costs (points) 111.20 107 107 109 110 110
Productivity (points) 93.20 94 91 92 95 99
Job Vacancies (Thousand) 583.62 645 645 640 640 620
Wages (EUR/Month) 4035.00 3957 3948 4019 4043 4063
Wage Growth (%) 0.70 -1 -1.6 -0.4 0.2 1.1
Wages in Manufacturing (points) 111.90 102 99.29 101 102 102
Minimum Wages (EUR/Hour) 9.35 9.35 9.35 9.35 9.5 9.5
Population (Million) 83.20 83.51 83.51 83.51 83.84 83.84
Retirement Age Women 65.67 65.75 65.75 65.75 65.75 65.83
Retirement Age Men 65.67 65.75 65.75 65.75 65.75 65.83
Labor Force Participation Rate (%) 62.60 63.2 63.4 63.6 63.6 63.6
Living Wage Family (EUR/Month) 1990.00 1970 1958 1982 1994 2004
Living Wage Individual (EUR/Month) 1240.00 1228 1220 1235 1242 1249
Part Time Employment (Thousand) 11142.90 12700 12700 13500 13500 14000
Wages Low Skilled (EUR/Month) 2050.00 2030 2017 2042 2054 2064
Wages High Skilled (EUR/Month) 3550.00 3515 3493 3536 3557 3575
Employment Change (%) 0.20 0.3 0.2 0.1 0.1 0.2
Employment Rate (%) 77.00 75.4 75.3 75.4 75.4 75.2
Full Time Employment (Thousand) 30455.60 32000 32000 32500 32500 33200

Prices Actual Q2 Q3 Q4 Q1 2021
Inflation Rate (%) 0.60 -0.3 -0.2 0.3 1 1.3
Inflation Rate Mom (%) -0.10 -0.3 0.2 0.4 0.3 0.5
Consumer Price Index CPI (points) 106.00 105 106 106 107 108
Harmonised Consumer Prices (points) 106.20 106 106 106 107 108
Core Consumer Prices (points) 106.50 105 106 106 106 108
Core Inflation Rate (%) 1.20 -0.8 -0.3 0.4 0.7 1.4
Producer Prices (points) 103.40 103 104 109 105 111
Producer Prices Change (%) -1.90 -2.2 -0.8 0.3 0.8 1.4
Export Prices (points) 101.50 105 105 107 107 108
Import Prices (points) 95.50 107 107 109 109 111
Food Inflation (%) 4.60 2.5 0.5 0.9 1.2 1.5
CPI Housing Utilities (points) 105.90 104 105 106 107 107
CPI Transportation (points) 103.80 107 106 107 106 109

Money Actual Q2 Q3 Q4 Q1 2021
Interest Rate (%) 0.00 0 0 0 0 0
Interbank Rate (%) -0.27 -0.41 -0.41 -0.41 -0.41 -0.41
Money Supply M2 (EUR Billion) 3274.00 3340 3340 3440 3440 3520
Foreign Exchange Reserves (EUR Million) 226903.00 207000 209000 211000 211000 219000
Banks Balance Sheet (EUR Billion) 8975.05 9110 9290 9500 9500 10100
Loans to Private Sector (EUR Billion) 1560.54 1481 1506 1467 1529 1562
Private Debt to GDP (%) 154.10 132 132 132 132 127
Central Bank Balance Sheet (EUR Billion) 1864.10 2140 2370 2580 2580 2970

Trade Actual Q2 Q3 Q4 Q1 2021
Balance of Trade (EUR Million) 17355.00 17400 23900 9400 25600 6800
Current Account (EUR Million) 24400.00 14000 20800 17400 25200 19100
Current Account to GDP (%) 7.10 5.9 5.9 5.9 6.8 6.8
Imports (EUR Million) 91593.00 75100 85900 76900 88600 91900
Exports (EUR Million) 108948.00 92500 107800 92300 114200 95700
External Debt (EUR Million) 4974278.00 5164000 5122000 5196000 5196000 5250000
Capital Flows (EUR Million) 14749.75 25900 25900 14800 14800 12500
Foreign Direct Investment (EUR Million) 16360.64 9800 8200 2130 2130 1500
Gold Reserves (Tonnes) 3364.20 3400 3400 3400 3400 3400
Terms Of Trade (points) 106.62 98.13 98.13 98.17 98.17 97.3
Tourist Arrivals (Thousand) 38881.00 30000 30000 30000 42100 42100
Crude Oil Production (BBL/D/1K) 37.00 44 44 44 44 44

Government Actual Q2 Q3 Q4 Q1 2021
Government Debt to GDP (%) 59.80 75 75 75 72 72
Government Budget (% of GDP) 1.40 -7 -7 -7 -2 -2
Government Budget Value (EUR Billion) 7.09 9 16 4 4 6
Government Spending (EUR Billion) 166.26 157 161 156 163 166
Government Spending to GDP (%) 45.40 55 55 55 46 46
Government Revenues (EUR Billion) 383.95 401 402 405 405 415
Government Debt (EUR Million) 1899167.55 1980000 2010000 1990000 1990000 2050000
Fiscal Expenditure (EUR Billion) 376.86 392 386 401 401 409
Asylum Applications 8355.00 9500 9500 1900 1900 1200

Taxes Actual Q2 Q3 Q4 Q1 2021
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 45.00 45 45 45 45 45
Sales Tax Rate (%) 16.00 19 19 19 19 19
Social Security Rate (%) 39.06 39.06 39.06 39.06 39.06 39.06
Social Security Rate For Companies (%) 19.44 19.44 19.44 19.44 19.44 19.44
Social Security Rate For Employees (%) 19.63 19.63 19.63 19.63 19.63 19.63

Business Actual Q2 Q3 Q4 Q1 2021
Business Confidence (points) 79.50 78 85 90 94 100
Manufacturing PMI (points) 36.60 44 48 50 51 52
Services PMI (points) 32.60 40 45 49 52 53
Composite Pmi (points) 32.30 42 47 49.4 51 53
Industrial Production (%) -11.60 1.4 1.2 1.1 1.1 1.5
Industrial Production Mom (%) -9.20 0.4 -0.6 0.6 0.6 0.5
Manufacturing Production (%) -14.40 0.7 0.9 1 1 1.7
Capacity Utilization (%) 70.60 86.2 86.2 86.2 86.2 86
New Orders (points) 64.80 108 108 111 111 112
Factory Orders (%) -25.80 1 -1.2 0.6 0.6 0.5
Bankruptcies (Companies) 1529.00 1750 1750 1750 1750 1690
Corporate Profits (EUR Billion) 169.17 168 169 170 170 174
Zew Economic Sentiment Index 51.00 30 -28 -24 -12 -17
Car Production (Units) 151500.00 360000 342000 285000 285000 295000
Car Registrations 168148.00 326000 199100 236000 236000 245000
Mining Production (%) -9.10 -2 1.5 2.5 2.5 2.1
Steel Production (Thousand Tonnes) 3000.00 3680 3290 3050 3050 3200

Consumer Actual Q2 Q3 Q4 Q1 2021
Consumer Confidence (points) -18.90 -18 -2.2 -1.3 3.2 6.4
Retail Sales MoM (%) -5.30 -1.2 -0.4 0.2 1.1 0.5
Retail Sales YoY (%) -6.50 -2.7 -1.7 -1 1.5 1.4
Consumer Spending (EUR Billion) 414.62 410 416 403 420 429
Disposable Personal Income (EUR Billion) 503.41 483 492 478 498 509
Personal Savings (%) 12.40 10.9 11 11.2 11.2 11.5
Consumer Credit (EUR Million) 238210.00 226888 230499 223725 233245 238267
Private Sector Credit (EUR Million) 3163661.00 2929483 2986828 2919420 3091078 3109182
Bank Lending Rate (%) 1.90 1.98 1.98 1.98 1.98 1.98
Households Debt To GDP (% of GDP) 54.40 56 56 56 56 55
Households Debt To Income (%) 83.73 75 75 75 75 72
Gasoline Prices (USD/Liter) 1.33 1.33 1.26 1.2 1.14 1.08

Housing Actual Q2 Q3 Q4 Q1 2021
Construction Output (%) 5.10 1.8 1.5 1.4 1.7 1.9
Housing Index (points) 176.07 178 181 185 185 190
Home Ownership Rate (%) 51.50 51 51 51 51 50.9
Building Permits 24708.00 22100 25900 29700 29700 32400
Construction Pmi (points) 40.10 42 46 51 50.5 52.5
Construction Orders (%) 6.30 -7.2 -3.2 -2 2.5 4.5


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.