Germany Economic Outlook
December 23, 2021
A second reading confirmed that GDP grew at a weaker sequential rate in Q3, largely due to sliding capital spending and a waning external sector, although upbeat household consumption sustained overall growth. Turning to Q4, early data points to a strong start to the period, although activity has since been disrupted by a marked deterioration in the health crisis. Following a robust expansion in industrial output and rebounding retail sales in October, surging Covid-19 cases have taken a toll on both consumer and business confidence on average in Q4. Moreover, the new wave has dealt a blow to the tertiary sector, with the services PMI pointing to deteriorating operating conditions in December—the first time in eight months—while manufacturing activity seemingly held its ground. In politics, the SPD’s Olaf Scholz was appointed as chancellor on 8 December, at the helm of the SPD-FDP-Greens coalition.Germany Economic Growth
Stronger growth in both household and capital spending, amid a tightening labor market and the gradual lifting of Covid-19 curbs, will see the economy expand at a notably quicker pace in 2022. That said, with soaring Covid-19 infections and the tightening of travel restrictions at the tail end of Q4, the outlook remains tied to the uncertain trajectory of the pandemic. FocusEconomics Consensus Forecast panelists project the economy to grow 3.9% in 2022, which is down 0.5 percentage points from last month’s forecast, and to expand 2.4% in 2023.Germany Economy Data
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Germany Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | -0.19 | 0.41 % | Jan 01 |
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Germany Economic News
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Germany: Business sentiment rises in January, but remains stuck in pessimism
January 25, 2022
The Ifo Business Climate Index rose to 95.7 in January from December’s nine-month low of 94.8.
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Germany: Economy recovers at moderate pace in 2021
January 24, 2022
A preliminary estimate revealed that the German economy expanded 2.7% year-on-year on a price-adjusted basis in 2021, marking a moderate recovery from the pandemic-induced 4.6% contraction recorded in the prior year.
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Germany: Private sector operating conditions improve at a strong pace in January
January 24, 2022
The IHS Markit Composite Purchasing Managers’ Index (PMI) jumped to 54.3 in January from December’s 18-month low of 49.9.
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Germany: Harmonized inflation slides in December
January 20, 2022
Harmonized consumer prices rose 0.4527% from the previous month in December, accelerating matchingfrom November's 0.27% rise.
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Germany: Industrial output drops in November
January 7, 2022
Industrial output fell 0.2% month-on-month in November on seasonally- and calendar-adjusted terms, swinging from the 2.4% increase recorded in the prior month.
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