Germany: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany

July 18, 2024

Preview Citation

Format: Chicago

Germany: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany, (USA: International Monetary Fund, 2024) accessed September 16, 2024

Summary

The economy contracted in 2023 due to high energy prices and interest rates. Headline inflation has fallen sharply as end-user energy prices have stabilized, but core inflation remains somewhat stickier, driven by services. Falling inflation and tight labor markets have turned real wage growth positive. High interest rates have boosted bank profitability, but part of this increase is likely temporary. High interest rates have exposed vulnerabilities in banks’ financing of commercial real estate activity.

Subject: Commercial banks, Expenditure, Financial institutions, Inflation, Labor, Labor markets, Prices, Public investment spending

Keywords: Article IV consultation discussion, Commercial banks, Currency of Germany, Energy-price shock, Global, Inflation, Labor markets, Public investment spending, State's ability, Supervisory authority

Publication Details

Pages:

92
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2024/229
Stock No:

1DEUEA2024001
ISBN:

9798400283260
ISSN:

1934-7685

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