Bundesbank President Jens Weidmann sees Brexit and the global trade dispute as the two largest risks to Germany’s economy. In a speech delivered in Mannheim, he called on politicians to resolve the conflicts.

At the end of the first quarter of 2022, German households’ financial assets amounted to €7,558 billion. This was €36 billion lower than in the previous quarter. Households‘ financial situation thus fall for the first time in two years.

Professor Dr. Axel A. Weber, President of the Deutsche Bundesbank, Speech at the Norges Bank Conference on Monetary Policy

The German current account recorded a surplus of €18.8 billion in March 2022, down €2.3 billion on the previous month’s level.

Economic output in Germany stagnated in the second quarter of 2022. Although the services providers which had been constrained during the pandemic received a boost, high price increases and uncertainty in connection with the war in Ukraine weighed on households and enterprises, according to the Bundesbank’s latest Monthly Report. In addition, the unfavourable developments on the gas market are clouding the future outlook and, according to the Bundesbank, are increasing the likelihood of a decline in gross domestic product in the fourth quarter of 2022 and the first quarter of 2023.