OECD Secretary-General Angel Gurría said in presenting a report in Berlin that “Germany’s recent economic performance is remarkable, and the robust expansion appears set to continue.” Also, “unemployment is at record low levels and Germany is providing jobs, and better lives, to hundreds of thousands of immigrants.” However, he also urged that “More must be done now to ensure that today’s strong economic and social results are sustained and extended to all.”
Gurría’s speech.
In the latest economic projections, Germany economic growth is expected to slow after a great year in 2017 but remains robust ahead. Unemployment rate is also projected to drop further as the economy improves. The more important part is that core inflation is expected to surge from 1.3% in 2018 to 2.0% in 2019.
OECD projects German economic growth to slow from 2.5% in 2017 to 2.1% in 2018 and maintain the same pace in 2019. Exports growth is expected to slow from 5.3% in 2017 to 4.5% in 2018 and 4.5% in 2019. CPI is projected to be unchanged at 1.7% in 2018 and climb further to 2.0% in 2019. Core CPI is also expected to be unchanged at 1.3% in 2018 and rose to 2.0% in 2019. Unemployment rate is projected to drop from 3.7% in 2017 to 3.4% in 2018 and then 3.3% in 2019.
The presentation.
