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July 11, 2023
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Germany ZEW -14.7 (consensus -10.0) in Jul-23


- Germany's ZEW indicator recorded a substantial decline of 14.7 points in July 2023, below market consensus expectations, indicating a more pessimistic economic outlook.
- While slightly higher than the one-year average, the indicator remains significantly below the long-run average, highlighting a relatively negative sentiment compared to historical norms.
June 30, 2023
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Germany unemployment rate 5.7% in Jun-23



- Germany's unemployment rate in June 2023 reached 5.7%, the highest level since June 2021 and 0.18 percentage points above the one-year average.
- However, it remains 2.54 percentage points below the long-run average, indicating ongoing challenges in the German labor market.
June 29, 2023
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Germany HICP inflation 6.77% y-o-y (consensus 6.7) in Jun-23

- Germany's HICP inflation exceeded expectations at 6.77% in June 2023, reaching the highest growth rate since April 2023.
- The inflation rate is significantly under the one-year average by 2.19 percentage points and yet over the long-run average by 4.95 percentage points, indicating a persistent and potentially challenging inflationary environment.

June 29, 2023
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Germany HICP inflation 6.77% y-o-y in Jun-23


- Germany's HICP inflation reached 6.77% in June 2023, the highest level since April 2023, indicating a significant surge in consumer prices.
- The current inflation figure is 2.19 percentage points below the one-year average and 4.95 percentage points above the long-run average, suggesting a longer-term upward trend in prices.

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