BERLIN (Reuters) -Germany's federal and state government tax revenues were up slightly in October, rising 0.5% from the same month a year ago, the finance ministry said in a report on Thursday. The
German Tax Revenues Increase by 0.5% in October 2024
BERLIN (Reuters) -Germany's federal and state government tax revenues were up slightly in October, rising 0.5% from the same month a year ago, the finance ministry said in a report on Thursday.
The German economy, Europe's largest, contracted in 2024 for the second consecutive year due to weak global demand, high energy costs and a dampened industrial output, and the government expects only 0.2% growth this year.
The report said leading indicators continue to send mixed signals, and at best, a moderate recovery can be expected by the end of the year.
Total tax revenues hit 61.2 billion euros ($70.64 billion) in October.
The two most significant types of tax again exhibited opposing trends in October: Revenue from wage tax recorded a noticeable increase, while sales tax revenue fell, it said.
From January to October, tax revenues increased by 5.7% compared with the same period in 2024 to 726.2 billion euros.
For 2025 as a whole, tax analysts predict revenues will climb to 903.8 billion euros, up 5.0%, the report said.
($1 = 0.8664 euros)
(Reporting by Christian Kraemer, writing by Miranda Murray, editing by Thomas Seythal)
