Markets Actual Q1 Q2 Q3 Q4 2020
Currency 1.14 1.13 1.13 1.12 1.12 1.1
Stock Market (points) 10918.62 10400 10265 10131 9999 9741
Government Bond 10Y (%) 0.24 0.17 0.19 0.21 0.22 0.26
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) -0.20 0.5 0.6 0.5 0.5 0.6
GDP Annual Growth Rate (%) 1.10 2.1 2 2.2 1.8 2.4
Unemployment Rate (%) 3.30 3.5 3.6 3.7 3.8 4
Inflation Rate (%) 1.70 1.9 1.9 1.9 1.9 2.4
Inflation Rate Mom (%) 0.10 0.4 0.3 0.2 0.7 0.6
Interest Rate (%) 0.00 0 0 0.25 0.25 0.75
Balance of Trade (EUR Million) 20500.00 24000 23600 17200 16000 11400
Current Account (EUR Million) 21400.00 30600 20800 19500 18400 15400
Current Account to GDP (%) 8.00 7.7 7.7 7.7 7.7 6.2
Government Debt to GDP (%) 63.90 60.5 60.5 60.5 60.5 60.1
Government Budget (% of GDP) 1.70 0.7 0.7 0.7 0.7 1
Business Confidence (Index Points) 101.00 103 104 103 101 100
Services PMI (Index Points) 51.80 52.6 54.1 54.6 54.2 53.3
Manufacturing PMI 51.50 51.9 53.4 55.5 55.1 54.9
Consumer Confidence (Index Points) 10.40 9.8 9.7 9.6 9.5 9
Retail Sales MoM (%) 1.40 -0.4 -0.2 0.2 0.6 0.2
Corporate Tax Rate (%) 29.79 29.79 29.79 29.79 29.79 29.79
Personal Income Tax Rate (%) 47.50 47.5 47.5 47.5 47.5 47.5
GDP Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) -0.20 0.5 0.6 0.5 0.5 0.6
GDP Annual Growth Rate (%) 1.10 2.1 2 2.2 1.8 2.4
GDP (USD Billion) 3677.44 4140 4140 4140 4140 4370
GDP Constant Prices (EUR Billion) 744.61 748 751 750 758 776
Gross National Product (EUR Billion) 865.59 862 871 872 881 902
Gross Fixed Capital Formation (EUR Billion) 153.73 153 154 155 156 160
GDP per capita (USD) 46747.19 48500 48500 48500 48500 49500
GDP per capita PPP (USD) 45229.25 46700 46700 46700 46700 47400
GDP From Agriculture (EUR Billion) 6.24 5.37 5.51 6.29 6.35 6.5
GDP From Construction (EUR Billion) 43.69 32.76 41.48 44.65 44.47 45.54
GDP From Manufacturing (EUR Billion) 178.02 176 183 179 181 186
GDP From Public Administration (EUR Billion) 137.67 140 136 141 140 144
GDP From Services (EUR Billion) 125.83 117 127 127 128 131
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 3.30 3.5 3.6 3.7 3.8 4
Employed Persons (Thousand ) 44845.00 44850 44900 45090 45200 45900
Unemployed Persons (Thousand ) 2209.55 2520 2550 2600 2650 2710
Unemployment Change (Thousand) -14.00 11 15 9 10 15
Long Term Unemployment Rate (%) 1.40 1.7 1.8 1.9 2.1 2.3
Youth Unemployment Rate (%) 6.10 6.1 6.2 6.3 6.5 6.9
Labour Costs (Index Points) 115.29 114 115 116 117 120
Productivity (Index Points) 101.70 105 105 106 107 109
Job Vacancies (Thousand) 781.33 691 685 668 650 640
Wages (EUR/Month) 3875.00 3980 4000 4010 4020 4110
Wages in Manufacturing (Index Points) 114.50 115 115 116 117 120
Wage Growth (%) 1.50 1.5 1.5 1.6 1.6 1.8
Minimum Wages (EUR/Hour) 9.19 9.19 9.19 9.19 9.19 9.35
Population (Million) 82.85 83.14 83.14 83.14 83.14 83.45
Retirement Age Women 65.58 65.67 65.67 65.67 65.67 65.75
Retirement Age Men 65.58 65.67 65.67 65.67 65.67 65.75
Labor Force Participation Rate (%) 60.90 62.4 62.6 62.8 63 64
Living Wage Family (EUR/Month) 1990.00 2150 2150 2150 2150 2200
Living Wage Individual (EUR/Month) 1240.00 1360 1360 1360 1360 1450
Part Time Employment (Thousand) 10897.10 12000 12100 12250 12400 13500
Wages Low Skilled (EUR/Month) 2050.00 2200 2200 2200 2200 2280
Wages High Skilled (EUR/Month) 3550.00 3700 3700 3700 3700 3750
Employment Change (%) 0.20 0.5 0.5 0.4 0.3 0.3
Employment Rate (%) 75.40 76 75.9 75.7 75.6 75.4
Full Time Employment (Thousand) 29382.30 31400 31500 31600 31700 32500
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 1.70 1.9 1.9 1.9 1.9 2.4
Inflation Rate Mom (%) 0.10 0.4 0.3 0.2 0.7 0.6
Consumer Price Index CPI (Index Points) 112.50 113 113 114 115 117
Harmonised Consumer Prices (Index Points) 105.20 106 106 107 108 110
Core Consumer Prices (Index Points) 111.90 112 112 113 113 116
Core Inflation Rate (%) 2.66 1.5 1.7 1.8 1.9 2.1
Producer Prices (Index Points) 105.10 115 106 107 117 124
Producer Prices Change (%) 3.30 2.3 2.5 2.4 2.4 2.3
Export Prices (Index Points) 102.20 104 104 105 105 107
Import Prices (Index Points) 103.70 104 105 106 107 109
Food Inflation (%) 1.00 2.1 2.2 2.4 2.3 2.5
CPI Housing Utilities (Index Points) 112.50 113 114 115 115 118
CPI Transportation (Index Points) 112.40 111 114 115 116 119
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 0.00 0 0 0.25 0.25 0.75
Interbank Rate (%) -0.31 -0.32 -0.32 -0.27 -0.22 -0.22
Money Supply M1 (EUR Billion) 2196.80 2220 2260 2280 2300 2400
Money Supply M2 (EUR Billion) 3002.60 3200 3240 3290 3340 3540
Money Supply M3 (EUR Billion) 3035.60 3620 3740 3830 3920 4510
Foreign Exchange Reserves (EUR Million) 173138.00 173000 175000 177000 179000 185000
Banks Balance Sheet (EUR Billion) 7848.14 8910 9100 9440 9820 10200
Loans to Private Sector (EUR Billion) 1476.91 1510 1520 1540 1560 1700
Private Debt to GDP (%) 147.60 138 138 138 138 132
Central Bank Balance Sheet (EUR Billion) 1817.30 2220 2520 3220 3410 4680
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (EUR Million) 20500.00 24000 23600 17200 16000 11400
Current Account (EUR Million) 21400.00 30600 20800 19500 18400 15400
Current Account to GDP (%) 8.00 7.7 7.7 7.7 7.7 6.2
Imports (EUR Million) 95741.00 83700 82500 86600 77500 79900
Exports (EUR Million) 116274.00 107700 106100 103800 93500 91300
External Debt (EUR Million) 4886438.00 4980000 5060000 5150000 5250000 5510000
Capital Flows (EUR Million) 22502.92 30600 19400 18500 16800 14800
Foreign Direct Investment (EUR Million) 18107.00 15100 11100 7400 1460 2130
Gold Reserves (Tonnes) 3369.70 3400 3400 3400 3400 3400
Terms Of Trade (Index Points) 98.55 100 99.05 99.06 98.13 98.17
Tourist Arrivals (Thousand) 37452.00 40000 40000 40000 40000 42100
Crude Oil Production (BBL/D/1K) 41.00 44 44 44 44 44
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 63.90 60.5 60.5 60.5 60.5 60.1
Government Budget (% of GDP) 1.70 0.7 0.7 0.7 0.7 1
Government Budget Value (EUR Billion) 36.06 -2 31 -7 12 9
Government Spending (EUR Billion) 142.29 144 145 145 145 148
Government Spending to GDP (%) 43.90 43.6 43.6 43.6 43.6 43.2
Government Revenues (EUR Billion) 373.32 325 348 342 373 381
Government Debt (EUR Million) 1771735.10 1940000 1950000 1980000 2010000 2070000
Fiscal Expenditure (EUR Billion) 337.26 327 317 349 361 372
Asylum Applications 13190.00 10900 17500 14200 2700 1900
Taxes Actual Q1 Q2 Q3 Q4 2020
Corporate Tax Rate (%) 29.79 29.79 29.79 29.79 29.79 29.79
Personal Income Tax Rate (%) 47.50 47.5 47.5 47.5 47.5 47.5
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 (%) 19.43 19.43 19.43 19.43 19.43 19.43
Social Security Rate For Employees (%) 20.78 20.78 20.78 20.78 20.78 20.78
Business Actual Q1 Q2 Q3 Q4 2020
Business Confidence (Index Points) 101.00 103 104 103 101 100
Services PMI (Index Points) 51.80 52.6 54.1 54.6 54.2 53.3
Manufacturing PMI 51.50 51.9 53.4 55.5 55.1 54.9
Composite Pmi (Index Points) 51.60 51.5 53.9 55.2 54.3 53.1
Industrial Production (%) -4.70 2.9 3.2 2.9 2.4 2.2
Industrial Production Mom (%) -1.90 -0.3 0.5 -0.6 0.7 0.6
Manufacturing Production (%) -4.90 3 2.8 2.5 2.5 2.4
Capacity Utilization (%) 87.10 86.7 86.6 86.6 86.5 86.2
New Orders (Index Points) 106.30 106 107 107 108 111
Factory Orders (%) -1.00 -0.6 0.9 -2 0.4 0.6
Bankruptcies (Companies) 1694.00 1890 1850 1810 1800 1750
Corporate Profits (EUR Billion) 192.30 214 216 218 221 235
Zew Economic Sentiment Index -17.50 -20 -4 20 22 25
Car Production (Units) 296000.00 572000 528000 556000 384000 393000
Car Registrations 237058.00 368000 332000 316200 278000 287000
Mining Production (%) -9.10 1.8 1.9 1.7 1.6 1.9
Steel Production (Thousand Tonnes) 3450.00 3900 3770 3320 3020 3050
Consumer Actual Q1 Q2 Q3 Q4 2020
Consumer Confidence (Index Points) 10.40 9.8 9.7 9.6 9.5 9
Retail Sales MoM (%) 1.40 -0.4 -0.2 0.2 0.6 0.2
Retail Sales YoY (%) 1.10 2.5 2.4 2.3 2.2 1.8
Consumer Spending (EUR Billion) 402.80 405 407 406 410 420
Disposable Personal Income (EUR Billion) 496.88 500 502 505 509 515
Personal Savings (%) 10.70 10.4 10.4 10.3 10.7 11
Consumer Credit (EUR Million) 232195.00 271000 274000 279000 281000 295000
Private Sector Credit (EUR Million) 2960607.00 2930000 2940000 2950000 2970000 3120000
Bank Lending Rate (%) 2.05 2.03 2.03 2.08 2.13 2.13
Gasoline Prices (USD/Liter) 1.57 1.48 1.44 1.41 1.38 1.38
Households Debt To GDP (% of GDP) 52.50 50.4 50.4 50.4 50.4 49.5
Households Debt To Income (%) 82.51 77.4 77.4 77.4 77.4 75
Housing Actual Q1 Q2 Q3 Q4 2020
Construction Output (%) -1.90 3.6 3.2 2.7 2 1.9
Housing Index (Index Points) 154.18 162 165 167 168 175
Building Permits 24016.00 36500 40500 34700 45700 49700
Construction Pmi 53.30 54 54.1 53.8 53.6 52
Construction Orders (%) 4.10 3 2.8 2.5 2.9 2.7
Home Ownership Rate (%) 51.70 51.2 51.2 51.2 51.2 51


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.