
Germany Economic Outlook
May 31, 2022
A detailed breakdown of Q1 national accounts confirmed the preliminary result of moderate growth, which was mainly driven by fixed investment and inventories. Household spending fell, as higher inflation and deeply pessimistic consumer sentiment more than offset the positive effect of the economic reopening. While the economy is expected to hold up relatively well in Q2, with composite PMI data for April and May showing a continued improvement in operating conditions, other data calls for caution. The war in Ukraine continues to weigh heavily on business and consumer sentiment. Moreover, both harmonized consumer and producer price inflation reached record highs in April, suggesting that price pressures will continue to hamper activity. Meanwhile, the European Commission recently highlighted the investment environment, productivity, digitalization and pensions as areas in need of reform.Germany Economic Growth
The pace of economic growth will moderate this year amid the fallout from the war in Ukraine. Elevated commodity prices will undermine consumer purchasing power and exacerbate supply chain issues for industry. Lockdowns in China may lead to additional supply bottlenecks and could also depress export demand. However, a tight labor market should provide some support. FocusEconomics Consensus Forecast panelists project the economy to grow 2.0% in 2022, which is down 0.2 percentage points from last month’s forecast, and to expand 2.5% 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: Harmonized inflation reaches record-high in May
June 14, 2022
Harmonized consumer prices rose 1.11% from the previous month in May, picking up from the 0.69% rise recorded in April.
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Germany: Industrial output rebounds in April
June 10, 2022
On a seasonally-adjusted monthly basis, industrial production rose 0.7% in April (March: -3.7% mom).
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Germany: Merchandise exports rebound in April
June 3, 2022
Merchandise exports rose 4.4% over in the previous month April (March: -3.0% month on month).
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Germany: Harmonized inflation comes in at highest level since our records began
May 30, 2022
Harmonized consumer prices rose 1.11% from the previous month in May, picking up from the 0.69% rise recorded in April.
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Germany: Composite PMI inches up in May
May 25, 2022
The S&P Global Flash Germany Purchasing Managers’ Index (PMI) inched up to 54.6 in May from April’s 54.3 reading.