# German tax revenue rose by 5.3% in August Published: 2024-09-20 Category: Headlines Category URL: https://business.express/category/headlines/ Meta Title: German Tax Revenue Rises 5.3% in August, Positive Trend Amid Economic Struggles Meta Description: Discover how Germany's tax revenue increased by 5.3% in August, reaching 61.9 billion euros. Despite economic challenges, the trend remains positive. URL: https://business.express/german-tax-revenue-rose-by-5-3-in-august/ ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qsmfaw001wwirgq3ggueqg/images/2024-09-19t220611z1lynxmpek8i0ulrtroptp4germany-gdp-ifo-1736747321391-compressed.webp) By Maria Martinez BERLIN (Reuters) – Germany’s federal and state governments’ tax revenue rose 5.3% in August compared with the same month last year, the finance ministry said on Friday. The federal and state governments’ tax revenue reached a total of 61.9 billion euros ($68.9 billion) last month, according to the ministry’s monthly report. This follows a 7.9% decline in tax revenues in July. Despite the volatility in taxes, the trend remains positive. Tax revenue rose by 2.3% in January through August, when compared with the same period last year, and reached 539.79 billion euros. The German economy unexpectedly contracted 0.1% in the second quarter, showing the continued struggles of the euro zone’s biggest economy and spurring recession fears. “The short-term economic outlook continues to be gloomy,” the report said. Inflation continues its downward trend, but core inflation – which excludes volatile items like food and energy -remains high. In its latest forecast, the German government expects the economy to grow 0.2% this year. The forecast will be updated on Oct. 9. For the whole of 2024, analysts see tax revenue increasing to 863.68 billion euros, up 4.1% from the previous year, according to the report. ($1 = 0.8979 euros) (Reporting by Maria Martinez; Editing by Mark Potter) --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---