Germany Economic Forecast

Germany Economic Outlook

May 2, 2017

The German economy continues to gain steam this year, although official figures are still outstanding. Robust external demand is boosting the all-important external sector, which is positively reverberating across the economy. Moreover, domestic growth is also on the upside, mainly propelled by solid developments in the construction sector and healthy sentiment among German manufacturers. Against this backdrop, business confidence rose to a nearly six-year high in April, defying fears of rising trade protectionist policies and the expected tough Brexit negotiations. Consumer confidence remained at high levels in May, partially reflecting a dynamic job market and the continued decline in the unemployment rate, which fell to a new record low in March. On the political front, the 14 May election in North Rhine-Westphalia will be another test to assess Chancellor Angela Merkel’s popularity ahead of the 24 September federal election.

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Germany Facts

Bond Yield0.41-4.39 %May 10
Exchange Rate1.09-0.20 %May 10
Stock Market12,7570.07 %May 10

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Germany Economic Growth

May 2, 2017

Economic growth will remain robust this year on the back of a strong external sector and resilient domestic demand. Higher inflation, however, will weigh on household consumption, while uncertainty could dampen investment. Our panel expects GDP to grow 1.6% in 2017, which is unchanged from last month’s forecast. For 2018, the panel also expects GDP growth of 1.6%.

Germany Economic News

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