Markets Actual Q3 Q4 Q1 Q2 2022
Currency 1.19 1.17 1.17 1.16 1.16 1.14
Stock Market (points) 15547.42 15195 14741 14300 13873 13056
Government Bond 10Y (%) -0.45 0.04 0.09 0.14 0.19 0.24

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) -1.80 3.8 1.2 1.1 0.8 0.5
GDP Annual Growth Rate (%) -3.10 4.2 4.5 4 5.5 1.7
Unemployment Rate (%) 3.70 3.8 4.1 4 3.8 3.6
Inflation Rate (%) 2.30 2.8 3.2 1.2 1.4 1.7
Inflation Rate Mom (%) 0.40 0.4 0.5 0.4 0.3 0.7
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Million) 12300.00 14800 6800 6800 19500 9200
Current Account (EUR Million) 13100.00 22500 19100 24900 21500 18500
Current Account to GDP (% of GDP) 7.00 7.8 7.8 6.9 6.9 6.9
Government Debt to GDP (% of GDP) 69.80 73 73 72 72 72
Government Budget (% of GDP) -4.20 -7.5 -7.5 -2 -2 -2
Business Confidence (points) 100.80 102 104 101 105 106
Services PMI (points) 62.20 57.1 55 53.6 54 54.5
Manufacturing PMI (points) 65.60 53.6 52 54 54.5 54.8
Consumer Confidence (points) -0.30 5.1 6.4 7 5.8 7.5
Retail Sales MoM (%) 4.20 -1.2 0.5 1 0.7 0.6
Corporate Tax Rate (%) 30.00 30 29.79 30 30 30
Personal Income Tax Rate (%) 45.00 45 47.5 45 45 45

GDP Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) -1.80 3.8 1.2 1.1 0.8 0.5
GDP Annual Growth Rate (%) -3.10 4.2 4.5 4 5.5 1.7
GDP (USD Billion) 3806.06 3960 3960 4200 4200 4200
GDP Constant Prices (EUR Billion) 768.78 811 818 800 811 832
Gross National Product (EUR Billion) 877.24 901 919 912 925 934
Gross Fixed Capital Formation (EUR Billion) 169.26 172 176 176 179 179
GDP per capita (USD) 45109.05 47200 47200 48100 48100 48100
GDP per capita PPP (USD) 50922.36 52600 52600 53200 53200 53200
GDP From Agriculture (EUR Billion) 5.58 5.81 5.49 5.8 5.89 5.58
GDP From Construction (EUR Billion) 39.34 48.34 57.49 40.91 41.5 58.47
GDP From Manufacturing (EUR Billion) 158.26 154 167 165 167 170
GDP From Public Administration (EUR Billion) 150.52 156 164 157 159 167
GDP From Services (EUR Billion) 112.45 130 130 117 119 132

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 3.70 3.8 4.1 4 3.8 3.6
Employed Persons (Thousand ) 44524.00 44250 44500 44700 44950 45100
Unemployed Persons (Thousand ) 2613.83 2950 3000 2900 2880 2890
Unemployment Change (Thousand) -38.00 -36 -40 -22 -26 -30
Long Term Unemployment Rate (%) 1.20 2.2 2.1 1.9 1.7 1.6
Youth Unemployment Rate (%) 7.50 7.6 7.9 7.8 7.6 7.6
Labour Costs (points) 113.82 123 122 114 116 117
Productivity (points) 98.80 97 99 100 101 102
Job Vacancies (Thousand) 693.32 750 680 700 720 740
Wages (EUR/Month) 4010.00 4077 4114 4070 4074 4208
Wages in Manufacturing (points) 102.90 104 104 104 105 106
Wage Growth (%) -2.00 2.5 2 1.5 1.6 2.3
Minimum Wages (EUR/Hour) 9.50 9.6 9.6 9.82 9.82 10.45
Population (Million) 83.17 83.84 83.84 84.17 84.17 84.17
Retirement Age Women 65.83 65.83 65.83 65.92 65.92 65.92
Retirement Age Men 65.83 65.83 65.83 65.92 65.92 65.92
Labor Force Participation Rate (%) 62.60 62 61.8 61.9 62 62.5
Employment Change (%) -0.10 0.5 0.6 0.7 0.4 0.5
Employment Rate (%) 76.70 76.9 77 76.8 76.9 76.7

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 2.30 2.8 3.2 1.2 1.4 1.7
Inflation Rate Mom (%) 0.40 0.4 0.5 0.4 0.3 0.7
Consumer Price Index CPI (points) 109.10 109 109 109 111 111
Harmonised Consumer Prices (points) 109.10 109 109 109 111 111
Core Consumer Prices (points) 108.90 108 108 109 111 110
Core Inflation Rate (%) 1.70 1.5 1.5 1.6 1.5 1.7
Producer Prices (points) 111.80 110 110 114 117 114
Producer Prices Change (%) 8.50 6.4 5.5 5.6 4.4 3
Import Prices (points) 108.50 105 105 106 107 109
Food Inflation (%) 1.30 1.6 1.5 1.9 2 1.7
CPI Housing Utilities (points) 107.60 108 109 108 109 111
CPI Transportation (points) 112.60 106 107 112 114 109

Money Actual Q3 Q4 Q1 Q2 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) 3527.80 3810 3720 3640 3690 3700
Foreign Exchange Reserves (EUR Million) 213600.00 234000 236000 232000 233000 234000
Banks Balance Sheet (EUR Billion) 9329.29 9480 9460 9320 9340 9250
Loans to Private Sector (EUR Billion) 1657.23 1710 1800 1850 1800 1750
Private Debt to GDP (%) 159.90 163 163 159 159 159
Central Bank Balance Sheet (EUR Billion) 2562.00 2650 2970 2890 2880 2860

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (EUR Million) 12300.00 14800 6800 6800 19500 9200
Current Account (EUR Million) 13100.00 22500 19100 24900 21500 18500
Current Account to GDP (% of GDP) 7.00 7.8 7.8 6.9 6.9 6.9
Imports (EUR Million) 97100.00 92200 91900 106000 89500 95900
Exports (EUR Million) 109400.00 109900 102700 125500 104200 105100
External Debt (EUR Million) 5706728.00 5645000 5720000 5790000 5750000 5810000
Capital Flows (EUR Million) 6541.11 14500 12500 16900 11900 19500
Foreign Direct Investment (EUR Million) 4655.89 4500 5200 6600 3800 3600
Remittances (EUR Million) 514.19 514 514 600 600 600
Gold Reserves (Tonnes) 3361.14 3400 3400 3400 3400 3400
Tourist Arrivals (Thousand) 231.22 2900 2250 1510 2100 2700

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 69.80 73 73 72 72 72
Government Budget (% of GDP) -4.20 -7.5 -7.5 -2 -2 -2
Government Budget Value (EUR Billion) -57.20 -32 -13 0 -10 11
Government Spending (EUR Billion) 171.67 178 179 177 178 181
Government Spending to GDP (% of GDP) 51.10 53.5 53.5 48 48 48
Government Revenues (EUR Billion) 410.11 372 402 390 384 422
Government Debt (EUR Million) 2205401.82 2270000 2220000 2260000 2250000 2220000
Fiscal Expenditure (EUR Billion) 467.31 404 415 390 394 411

Taxes Actual Q3 Q4 Q1 Q2 2022
Corporate Tax Rate (%) 30.00 30 29.79 30 30 30
Personal Income Tax Rate (%) 45.00 45 47.5 45 45 45
Sales Tax Rate (%) 19.00 19 19 19 19 19
Social Security Rate (%) 40.21 40.21 40.21 40.21 40.21 40.21
Social Security Rate For Companies (%) 19.98 19.98 19.43 19.98 19.98 19.98
Social Security Rate For Employees (%) 20.23 20.23 20.78 20.23 20.23 20.23

Business Actual Q3 Q4 Q1 Q2 2022
Business Confidence (points) 100.80 102 104 101 105 106
Services PMI (points) 62.20 57.1 55 53.6 54 54.5
Manufacturing PMI (points) 65.60 53.6 52 54 54.5 54.8
Composite PMI (points) 62.50 56.8 54.2 53.7 54.4 54.8
Industrial Production (%) 17.30 5.8 4.5 3 3.6 2.8
Industrial Production Mom (%) -0.30 -0.8 0.6 0.8 1 0.4
Manufacturing Production (%) 20.60 6.4 5.1 4.5 5.4 3.8
Capacity Utilization (%) 86.20 85 88 87 86.8 87
Factory Orders (%) -3.70 -0.7 0.6 0.9 0.8 0.4
Bankruptcies (Companies) 1333.00 1340 1250 1320 1380 1490
Corporate Profits (EUR Billion) 182.51 186 182 179 175 176
Zew Economic Sentiment Index 63.30 25 5 12 15 9
Car Production (Units) 247400.00 364000 294000 385000 316200 307000
Car Registrations (Units) 274152.00 277200 322000 299000 245900 345000
Mining Production (%) -1.30 4.5 4.2 4.8 5.2 3.6

Consumer Actual Q3 Q4 Q1 Q2 2022
Consumer Confidence (points) -0.30 5.1 6.4 7 5.8 7.5
Retail Sales MoM (%) 4.20 -1.2 0.5 1 0.7 0.6
Retail Sales YoY (%) -2.40 5.2 4.8 3.6 4.2 3
Consumer Spending (EUR Billion) 383.75 432 424 399 405 431
Disposable Personal Income (EUR Billion) 519.90 533 539 541 548 548
Personal Savings (%) 20.10 13 12 12.5 12 11.5
Consumer Credit (EUR Million) 232207.00 246994 245735 241495 244978 249912
Private Sector Credit (EUR Million) 3299978.00 3342747 3380131 3416524 3481477 3437593
Bank Lending Rate (%) 1.89 1.89 1.89 1.89 1.89 1.89
Households Debt To GDP (% of GDP) 58.80 65 65 62 62 62
Households Debt To Income (%) 84.70 91 91 88 88 88
Gasoline Prices (USD/Liter) 1.86 1.77 1.68 1.6 1.52 1.44

Housing Actual Q3 Q4 Q1 Q2 2022
Construction Output (%) 5.20 3.8 3.8 4.6 5.2 3.7
Housing Index (points) 201.81 198 194 189 191 190
Home Ownership Rate (%) 51.10 50.9 50.9 50.4 50.4 50.4
Building Permits 29027.00 29200 36400 38600 37400 40400
Construction PMI (points) 47.00 53.2 52.5 53.8 54 54.5
Construction Orders (%) 8.40 2.7 4.5 3.6 4.4 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.