The December 2019 Monthly Report describes the outlook for the German economy based on projections for 2020 and 2021, looking further ahead to 2022 as well, and contains an analysis of German enterprises’ profitability and financing conditions in 2018. It also addresses the relevance of surveys of expectations for the Deutsche Bundesbank, and a further article discusses the mixing of euro coins in Germany.

The German financial system remains vulnerable to adverse economic developments. Future credit risk could be underestimated and the recoverability of loan collateral such as real estate overestimated.

The November 2019 edition of the Monthly Report comments on the economic situation in Germany in autumn 2019.