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Staff Report for the 2015 Article IV Consultation

Germany by International Monetary Fund. European Dept.
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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.
International Monetary Fund; July 2015
72 pages; ISBN 9781513574707
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Title: Germany
Author: International Monetary Fund. European Dept.