Germany: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany
Electronic Access:
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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.
Series:
Country Report No. 2024/229
Subject:
Commercial banks Expenditure Financial institutions Inflation Labor Labor markets Prices Public investment spending
Frequency:
regular
English
Publication Date:
July 18, 2024
ISBN/ISSN:
9798400283260/1934-7685
Stock No:
1DEUEA2024001
Format:
Paper
Pages:
92
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