Germany: Staff Report for the 2015 Article IV Consultation

July 15, 2015

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Format: Chicago

Germany: Staff Report for the 2015 Article IV Consultation, (USA: International Monetary Fund, 2015) accessed December 22, 2024

Summary

This 2015 Article IV Consultation highlights that the ongoing upturn in Germany is benefiting from the euro depreciation and lower energy prices, and is underpinned by a healthy fiscal position and sound corporate and household balance sheets. Employment growth has been robust, supported by strong immigration. The unemployment rate hit an additional post-reunification low at 4.7 percent. The oil price drop brought inflation temporarily close to zero, which has contributed to lift real wage growth to a 20-year high. The current moderate growth momentum is expected to continue as robust real wages buoy private consumption and euro depreciation buttresses exports, opening the way for a recovery in machinery and equipment investment.

Subject: Balance of payments, Banking, Commercial banks, Cooperative banks, Current account surpluses, Expenditure, Financial institutions, Labor, Public investment and public-private partnerships (PPP)

Keywords: Article IV report, Commercial banks, Cooperative banks, CR, Current account surpluses, DAX stock market index, Euro depreciation buttresses export, Federal government initiate legislation, Global, ISCR, Mortgage loan eligibility, Public investment and public-private partnerships (PPP), Staff appraisal, Stock market index

Publication Details

Pages:

71
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/187
Stock No:

1DEUEA2015001
ISBN:

9781513511160
ISSN:

1934-7685

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