The real gross domestic product in Germany will rise by 1.2% on average in 2005, and even by 1.4% after excluding calendar fluctuations. Investments will increase again, and private consumption is also likely to pick up. Given the still favorable international environment, exports continue to be an important pillar of the economy; however, their rate of increase will slow. However, the labor market situation will remain desolate; at its peak, the number of unemployed people will even climb to 5.1 million if the Hartz IV reform is taken into account.