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2016 OECD Economic Surveys: Germany 2016

image of OECD Economic Surveys: Germany 2016

This 2016 OECD Economic Survey of the Germany examines recent economic developments, policies and prospects. The special chapters cover: Boosting investment performance and Raising well-being in Germany’s aging society.

English French, German

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Assessment and recommendations

Economic growth has rebounded quickly since the global financial crisis of 2009. A competitive manufacturing sector and euro depreciation have driven strong export performance. Reflecting past labour market reforms, the unemployment rate has continued to fall and is now the lowest in the European Union (, Panels A, B and C). Private household demand has risen on the back of a robust labour market and the recent introduction of a minimum wage, which significantly increased the benefits of working at the lower end of the labour market. Decisive action by the European Central Bank (ECB) provided monetary support and helped to stabilise the euro area. Germany’s status as a safe haven for financial investors has also supported activity while euro area membership prevented appreciation vis-à-vis most key European trading partners. An effective fiscal rule resulting in a solid fiscal position and overall competition-friendly product market regulation are key factors which sustain a high level of productivity and confidence.

English French, German

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