Current Account in Germany
Germany - Current Account (billions of Euros)
Growth is expected to have slowed markedly in the second quarter as the harsh external environment continues to leave its mark on the German economy. Industrial output fell in April–May, partly owing to a noticeable drop in manufacturing production, while manufacturing PMI data points to a deeper contraction in the sector in Q2 compared to Q1. Moreover, business confidence soured in the quarter due to concerns about the future economic climate. This in part reflects troubles in the automotive sector, which is suffering from the global slowdown, especially in China, and lingering trade uncertainties. On the other hand, domestic fundamentals are seemingly still healthy. Retail sales recovered in April–May as the labor market remained tight and inflation manageable, and the services PMI increased in Q2 over the prior quarter. However, consumer sentiment deteriorated due to a more uncertain global outlook.Germany - Current Account (EUR bn) Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Current Account Balance (EUR bn) | 184 | 211 | 260 | 265 | 262 |
Germany Current Account (EUR bn) Chart
Source: German Central Bank and FocusEconomics calculations.
Germany Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | -0.48 | 0.41 % | Jul 31 |
| Exchange Rate | 1.11 | 0.65 % | Jul 31 |
| Stock Market | 12,189 | -0.41 % | Jul 31 |
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Economic News
Germany: Germany: Composite PMI improves slightly in August but still languishes around six-year lows
August 22, 2019
Leading indicators suggest momentum in the Eurozone’s largest economy remained weak in August, amid divergent dynamics in the services and manufacturing sectors.
Germany: Economy contracts in Q2 on drag from the external sector
August 14, 2019
Preliminary data released by Germany’s Statistical Institute showed that the economy contracted 0.1% on a seasonally- and calendar-adjusted quarter-on-quarter basis in the second quarter, contrasting the 0.4% expansion logged in the first quarter.
Germany: Harmonized inflation moderates noticeably in July
August 13, 2019
German harmonized consumer prices rose 0.4% month-on-month in July, up from the 0.3% rise recorded in June.
Germany: Exports drop in June and close out a weak second quarter
August 9, 2019
German trade data brought no reprieve in June; exports fell 0.1% month-on-month on a calendar- and seasonally-adjusted basis in June, contrasting the upwardly revised 1.3% expansion in May (previously reported: +1.1% month-on-month).
Germany: German industrial output drops markedly in June
August 7, 2019
Industrial production tanked in June as output fell 1.5% month-on-month in seasonally- and calendar-adjusted terms, contrasting the revised meager 0.1% expansion in May (previously reported: +0.3% month-on-month).
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