Current Account in Germany
Germany - Current Account (billions of Euros)The economy expanded at the fastest rate in over a decade in the second quarter, as the gradual rollback of restrictions propelled domestic demand. The external sector, however, weighed on overall growth as imports rose at a markedly quicker pace than exports. Turning to Q3, private-sector business conditions improved at a stronger pace in July–August compared to Q2, particularly buoying the services sector. Furthermore, business confidence remained upbeat in July on an improvement in the current business climate. In addition, the unemployment rate ticked down further in the same month, which, coupled with consumers turning notably less pessimistic in July–August, bodes well for private consumption. Against this backdrop, Germans will head to the polls on 26 September to usher in the post-Merkel era, with her Christian Democrats and the Social Democratic Party neck-and-neck in the polls.
Germany - Current Account (EUR bn) Data
|Current Account Balance (EUR bn)||260||267||254||247||245|
5 years of economic forecasts for more than 30 economic indicators.
Germany Current Account (EUR bn) Chart
Source: German Central Bank and FocusEconomics calculations.
|Bond Yield||-0.19||0.41 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
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September 10, 2021
Harmonized consumer prices rose 0.09% month-on-month in August, down from July’s 0.55% increase.
September 9, 2021
Merchandise exports increased 0.5% month-on-month in July on a calendar- and seasonally-adjusted basis, down from June’s 1.3% expansion.
September 6, 2021
Industrial production rose 1.0% month-on-month in July in seasonally- and calendar-adjusted terms, swinging from June’s 1.0% contraction.
Germany: First election without Merkel likely to be followed by lengthy government formation process
August 31, 2021
German voters will head to the ballots on 26 September to elect the members of the Bundestag.
August 26, 2021
The GfK consumer climate index is forecast to drop to minus 1.2 in September from minus 0.4 in August on the back of a slowdown in the vaccination drive as well as domestic discussion over how to deal with unvaccinated individuals going forward.