Economic Outlook
+ + + Upcoming Forecast: September 4, 2025 + + + |

GERMANY

WORLD
Key Indicators | GERMANY
June 2025
Shaded: Kiel Institute forecast
2023 | 2024 | 2025 | 2026 | |
Gross domestic product (GDP), volume | -0.3 | -0.2 | 0.3 | 1.6 |
Gross domestic product, deflator | 6.1 | 3.1 | 2.5 | 2.3 |
Consumer prices | 5.9 | 2.2 | 2.2 | 1.6 |
Labor productivity (per hour worked) | -0.6 | -0.1 | 0.3 | 0.8 |
Employment (1000 persons) | 46,011 | 46,081 | 46,055 | 46,195 |
Unemployment rate (percent) | 5.7 | 6.0 | 6.3 | 6.1 |
in relation to nominal GDP | ||||
Public sector net lending | -2.5 | -2.7 | -2.1 | -3.5 |
Gross public debt | 62.9 | 62.5 | 62.7 | 63.9 |
Current account balance | 5.6 | 5.7 | 5.4 | 4.9 |
GDP, consumer prices, labor productivity: percentage change on previous year; unemployment rate: as defined by the Federal Employment Agency.
Source: Federal Statistical Office, Fachserie 18, Series 1.2; Federal Employment Agency, Monthly Bulletin; Federal Employment Agency, Employment Statistics; shaded: Kiel Institute forecast.
Key Indicator | EURO AREA
June 2025
Shaded: Kiel Institute forecast
2023 | 2024 | 2025 | 2026 | |
Gross domestic product (GDP), volume | 0.6 | 0.8 | 1.1 | 1.2 |
Consumer prices | 5.4 | 2.4 | 2.1 | 1.9 |
Unemployment rate (percent) | 6.6 | 6.4 | 6.3 | 6.1 |
in relation to nominal GDP | ||||
Public sector net lending | -3.6 | -3.2 | -3.2 | -3.5 |
Current account balance | 1.7 | 3.3 | 3.0 | 3.0 |
GDP, consumer prices: percentage change on previous year. Source: Eurostat; Shaded: Kiel Institute forecast.
Key Indicator | WORLD
June 2025
Shaded: Kiel Institute forecast.
Real GDP and consumer prices in selected countries and regions. 2024–2026
Bruttoinlandsprodukt | Verbraucherpreise | |||||
2024 | 2025 | 2026 | 2024 | 2025 | 2026 | |
United States | 2.8 | 1.5 | 1.4 | 2.9 | 3.2 | 2.7 |
Japan | 0.2 | 0.8 | 0.7 | 2.5 | 2.9 | 1.8 |
Euro Area | 0.8 | 1.1 | 1.2 | 2.4 | 2.1 | 1.9 |
United Kingkom | 1.1 | 1.1 | 0.9 | 2.5 | 3.0 | 2.4 |
Advanced economies | 1.6 | 1.2 | 1.3 | 2.7 | 2.7 | 2.3 |
China | 5.0 | 4.5 | 4.2 | 0.2 | 0.2 | 0.2 |
Latin America | 1.9 | 1.8 | 1.8 | 29.2 | 9.0 | 6.5 |
India | 6.7 | 6.7 | 6.5 | 5.1 | 4.9 | 4.5 |
East Asia | 4.7 | 4.8 | 4.7 | 2.2 | 1.9 | 2.3 |
Russia | 4.1 | 0.8 | 0.5 | 8.4 | 10.0 | 8.0 |
Africa | 2.8 | 3.0 | 3.1 | 23.5 | 16.4 | 12.4 |
World economy | 3.3 | 2.9 | 2.9 | 7.0 | 4.8 | 3.9 |
Addenum: World trade volume | 2.5 | 2.7 | 0.3 | . | . | . |
Ölpreis (US $/Barrel) | 79.7 | 66.6 | 63.4 | . | . | . |
World economy, weighted according to GDP at 2023 market exchange rates | 2.9 | 2.4 | 2.4 | 5.2 | 3.7 | 3.0 |
Weighted according to GDP at 2023 PPP rates. — East Asia: Emerging Asia excluding China and India. — Shaded: Kiel Institute forecast.