According to the latest figures from the Federal Statistical Office, the German economy performed better in the first half of this year than geopolitical burdens and the negative mood in this country would have expected; the price- and seasonally adjusted gross domestic product increased by 0.75% in this period and by 1.5% on an annual basis. At the same time, important reform projects – such as the health care reform (in force), a pension reform and a tax reform (both as a draft) – were launched. In addition, several economic and climate indicators have improved; however, the positive change in sentiment expressed here is not always reflected in public opinion. Apart from this, the continued weakness in private investment activity illustrates the continuing need for structural reforms.