IMF Staff Country Reports

Germany : Staff Report for the 2005 Article IV Consultation

Author/Editor:

International Monetary Fund

Publication Date:

January 18, 2006

Electronic Access:

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Summary:

This 2005 Article IV Consultation highlights that economic activity in Germany is slowly picking up, and there is scope for some further firming of growth in the course of 2006. The recovery, however, remains unbalanced, and strong exports have yet to feed through into higher household spending. Although the risks to the outlook are broadly neutral, an unwinding of global imbalances and higher oil prices could yet provide headwinds for the recovery. On balance, headline growth is forecast at 1 percent in 2005 and 1.5 percent in 2006, implying a gradual recovery in working-day-adjusted terms.

Series:

Country Report No. 06/16

Subject:

Article IV consultation reports Balance of payments statistics Economic conditions Economic indicators Economic policy Economic reforms Financial sector Financial soundness indicators Fiscal policy Germany Labor market policy Public information Staff Reports Trade policy