{
  "title": "Germany: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany",
  "publication": "IMF Staff Country Reports, July 7, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/07/07/germany-2017-article-iv-consultation-press-release-staff-report-and-statement-by-the-45048",
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  "summary": "This 2017 Article IV Consultation highlights that Germany’s growth momentum has remained solid, underpinned by robust domestic demand. In 2016, strong employment growth continued to support private consumption, while public consumption and investment in construction accelerated further.",
  "publishDate": "2017-07-07",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Growth and demand conditions",
      "content": "- Growth momentum has remained solid, underpinned by robust domestic demand.\n- In 2016:\n  - Strong employment growth continued to support private consumption.\n  - Public consumption accelerated.\n  - Investment in construction accelerated further.\n- Following a soft patch for most of the year, exports and investments in equipment have rebounded in the most recent quarters."
    },
    {
      "heading": "Projections and inflation",
      "content": "- Real GDP is expected to grow by 1.8 percent in 2017 and 1.6 percent in 2018.\n- The projected growth increases the already positive output gap and is pushing up core inflation."
    },
    {
      "heading": "Medium-term challenges and risks",
      "content": "- Over the medium term:\n  - Population aging is expected to weigh on growth.\n  - Slow progress on structural reforms is expected to weigh on growth."
    },
    {
      "heading": "Subject tags and keywords (as listed)",
      "content": "- Subject: Commercial banks, Cooperative banks, Financial institutions, Labor, Labor markets, Public debt, Wages\n- Keywords: Bundesbank, Commercial banks, Cooperative banks, core inflation, CR, debt ratio, Europe, Global, IMF staff calculation, ISCR, job coaching, Labor markets, price growth, public debt debt ratio, staff assessment candid, surplus, venture capital, Wages"
    },
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      "content": "- Pages: 73\n- Volume: 2017\n- Issue: 192\n- Series: Country Report No. 2017/192\n- DOI: https://doi.org/10.5089/9781484307908.002\n- Stock No: 1DEUEA2017001\n- ISBN: 9781484307908\n- ISSN: 1934-7685\n\nInternational Monetary Fund. Germany: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Germany (IMF Staff Country Reports 2017, 192).\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2017/07/07/germany-2017-article-iv-consultation-press-release-staff-report-and-statement-by-the-45048"
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    "Published: July 7, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484307908.002",
    "Growth momentum has remained solid, underpinned by robust domestic demand.",
    "In 2016:",
    "Following a soft patch for most of the year, exports and investments in equipment have rebounded in the most recent quarters.",
    "Real GDP is expected to grow by 1.8 percent in 2017 and 1.6 percent in 2018.",
    "The projected growth increases the already positive output gap and is pushing up core inflation.",
    "Over the medium term:",
    "Subject: Commercial banks, Cooperative banks, Financial institutions, Labor, Labor markets, Public debt, Wages",
    "Keywords: Bundesbank, Commercial banks, Cooperative banks, core inflation, CR, debt ratio, Europe, Global, IMF staff calculation, ISCR, job coaching, Labor markets, price growth, public debt debt ratio, staff assessment candid, surplus, venture capital, Wages",
    "Pages: 73",
    "Volume: 2017",
    "Issue: 192",
    "Series: Country Report No. 2017/192",
    "DOI: https://doi.org/10.5089/9781484307908.002",
    "Stock No: 1DEUEA2017001",
    "ISBN: 9781484307908",
    "ISSN: 1934-7685",
    "**Country Report**"
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