At a press conference today, Bundesbank President Joachim Nagel and First Deputy Governor Sabine Mauderer presented the Bundesbank’s Annual Report for 2025. The loss for the year declined further in 2025, as expected. In view of a significant improvement in profitability, the Bundesbank reported a loss for the year of €8.6 billion, Mr Nagel explained.

German economic output rose significantly in the fourth quarter of 2025, according to the Monthly Report. Growth towards the end of the year was primarily driven by private and government consumption. Households probably also benefited from strong wage growth. Industry grew its production and construction output rose significantly. According to the experts, there is no sign of any short-term trend reversal for the better in the labour market. The inflation rate stood at around 2 % at the turn of the year.