The December 2018 edition of the Bundesbank’s Monthly Report outlines the prospects for the German economy on the basis of projections for 2019 and 2020, with a look ahead at the year 2021. It also features an analysis of German enterprises’ profitability and financing conditions in 2017 as well as an article on the amount, profitability and risks of cross-border assets in Germany’s external position. 

The average annual total return on all foreign investment (excluding financial derivatives) amounted to 3.7% between 2008 and 2017. As noted in the December 2018 Monthly Report, "Considerable differences are to be found between the individual asset classes". Direct investment generated the highest return, averaging 5.2%, followed by debt securities (4.7%), equities (4.5%), and other investment and reserve assets (2.2%).

In many areas, the ramifications of Brexit are not yet clear. It is likely, however, that the United Kingdom’s departure from the European Union will lead to a de-liberalisation of trade in services. A new study examines what this change could mean for individual EU Member States.