Markets Actual Q2 Q3 Q4 Q1 2022
Currency 1.21 1.2 1.19 1.19 1.18 1.18
Stock Market (points) 15255.13 14814 14467 14128 13798 13136
Government Bond 10Y (%) -0.24 0.02 0.05 0.08 0.11 0.17

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) -1.70 1.7 2.5 0.9 0.6 0.5
GDP Annual Growth Rate (%) -3.00 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 (%) 2.00 1.5 1.5 1.6 1.8 1.7
Inflation Rate Mom (%) 0.70 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 (%) 7.00 6.8 6.8 6.8 6.2 6.2
Government Debt to GDP (%) 69.80 72 72 72 69 69
Government Budget (% of GDP) -4.20 -2 -2 -2 0.8 0.8
Business Confidence (points) 96.80 99 97 100 101 104
Manufacturing PMI (points) 66.20 55 53.6 52 54 54.8
Services PMI (points) 49.90 54.7 53.2 53 53.6 54.5
Consumer Confidence (points) -8.80 1 5.1 6.4 7 7.5
Retail Sales MoM (%) 7.70 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 (%) -1.70 1.7 2.5 0.9 0.6 0.5
GDP Annual Growth Rate (%) -3.00 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) 769.69 782 815 799 814 828
Gross National Product (EUR Billion) 875.90 875 906 898 914 930
Gross Fixed Capital Formation (EUR Billion) 166.53 173 173 171 174 177
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 6.39 5.63 5.23 5.32 5.42
GDP From Construction (EUR Billion) 53.37 48.54 48.63 54.71 55.72 56.68
GDP From Manufacturing (EUR Billion) 159.91 141 155 164 167 170
GDP From Public Administration (EUR Billion) 156.81 149 157 161 164 167
GDP From Services (EUR Billion) 121.32 119 131 124 127 129

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 4.50 5.1 4.9 4.2 4 3.7
Employed Persons (Thousand ) 44481.00 43000 42250 42500 43000 44100
Unemployed Persons (Thousand ) 2771.23 3160 3050 3000 2900 2890
Unemployment Change (Thousand) 9.00 55 -36 -40 -22 -30
Long Term Unemployment Rate (%) 1.10 2.3 2.2 2.1 1.7 1.6
Youth Unemployment Rate (%) 6.00 6.7 6.5 5.8 5.6 5.6
Productivity (points) 97.40 94 97 99 100 102
Labour Costs (points) 111.90 113 118 122 114 116
Job Vacancies (Thousand) 628.56 510 590 680 700 720
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 (%) 76.70 74.7 74.9 75 75.4 76

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 2.00 1.5 1.5 1.6 1.8 1.7
Inflation Rate Mom (%) 0.70 0.4 0.4 0.5 0.4 0.7
Consumer Price Index CPI (points) 108.20 108 107 107 109 109
Harmonised Consumer Prices (points) 108.40 108 107 107 110 109
Core Consumer Prices (points) 107.20 107 108 110 108 110
Core Inflation Rate (%) 1.40 1.2 1.1 1.4 1.5 1.7
Producer Prices (points) 107.90 105 105 111 109 109
Producer Prices Change (%) 3.70 1.7 1.5 1.8 1.9 2.5
Import Prices (points) 103.60 105 104 105 106 109
Food Inflation (%) 1.60 1.4 1.3 1.5 1.5 1.7
CPI Housing Utilities (points) 107.20 107 107 107 109 109
CPI Transportation (points) 110.60 106 105 106 113 107

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) 3507.90 3700 3810 3720 3640 3700
Banks Balance Sheet (EUR Billion) 9207.73 9510 9480 9460 9320 9250
Foreign Exchange Reserves (EUR Million) 209400.00 225000 234000 236000 232000 234000
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 (%) 7.00 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
Foreign Direct Investment (EUR Million) 1821.22 2300 4500 5200 6600 3600
Capital Flows (EUR Million) 43567.47 9500 14500 12500 16900 19500
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 (%) 69.80 72 72 72 69 69
Government Budget (% of GDP) -4.20 -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) 96.80 99 97 100 101 104
Manufacturing PMI (points) 66.20 55 53.6 52 54 54.8
Services PMI (points) 49.90 54.7 53.2 53 53.6 54.5
Composite PMI (points) 55.80 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 (%) 86.20 84 85 88 87 87
Factory Orders (%) 3.00 0.5 -0.7 0.6 0.9 0.4
Bankruptcies (Companies) 1108.00 1550 1540 1750 1620 1690
Corporate Profits (EUR Billion) 172.05 169 166 165 168 171
Zew Economic Sentiment Index 70.70 30 11 5 12 9
Car Production (Units) 373900.00 174000 251000 234000 288000 255000
Car Registrations (Units) 229650.00 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) -8.80 1 5.1 6.4 7 7.5
Retail Sales MoM (%) 7.70 0.9 -1.2 0.5 1 0.6
Retail Sales YoY (%) 11.00 4.4 5.2 4.8 3.6 3
Consumer Spending (EUR Billion) 401.38 409 435 411 419 426
Disposable Personal Income (EUR Billion) 517.26 546 541 530 540 549
Personal Savings (%) 17.70 14.2 13 12 12.5 11.5
Consumer Credit (EUR Million) 235153.00 257586 248653 241032 245500 249709
Private Sector Credit (EUR Million) 3256405.00 3481567 3365204 3315439 3399687 3434795
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) 1.83 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) 194.29 200 198 194 189 190
Home Ownership Rate (%) 51.10 50.9 50.9 50.9 50.4 50.4
Building Permits 26829.00 22800 20200 26400 29600 30400
Construction PMI (points) 46.20 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.