Economic growth, inflation, labour markets, public finances and the external sector of the G7 economies. Values from 2026 onwards are IMF projections (dashed); for GDP growth, inflation and unemployment, dotted markers additionally show external forecaster consensus estimates.
Last updated: June 26, 2026
Current Overview (2025)
IMF World Economic Outlook, April 2026: 2025 values are IMF estimates or preliminary data. Click a column header to sort. Colours are a rough guide based on simplified thresholds, not a substantive overall assessment.
Economic Growth
Real GDP growth (% p.a.)
Annual change in real gross domestic product. Clearly visible: the 2009 financial crisis, the 2020 Covid slump and the 2021 rebound.
◇ Dotted from 2026: external forecast consensus (private surveys, bank economists, official institutions), as of March–May 2026.
Real GDP, index (2000 = 100)
Total real GDP indexed to 2000 (not per capita – the US and Canada also benefit from population growth). Note how Italy falls behind well before 2008 and Germany stagnates from 2019. IMF projection (dashed) from 2026.
Prices & Labour Market
Inflation (consumer prices, % p.a.)
The 2022 inflation wave hit all G7 countries – hardest the United Kingdom (9.1%) along with Germany and Italy (8.7% each), and far more mildly Japan.
◇ Dotted from 2026: external forecast consensus (private surveys, bank economists, official institutions), as of March–May 2026.
Unemployment rate (%)
Unemployed as a share of the labour force. Structurally low in Japan, persistently elevated in Italy and France.
◇ Dotted from 2026: external forecast consensus (private surveys, bank economists, official institutions), as of March–May 2026.
Public Finances
Government gross debt (% of GDP)
General government gross debt. Japan has by far the highest gross debt ratio, Germany clearly the lowest. On a gross basis Canada sits in the upper midfield (it looks much better in net terms).
Government net debt (% of GDP)
Gross debt minus the government’s financial assets. Canada looks far stronger in net terms because its large public pension funds (CPP/QPP) count as assets.
Government interest payments (% of GDP)
Interest paid on public debt. Since the 2022 turn in interest rates the burden has risen most visibly in the US and Canada; Italy remains among the countries with the highest interest burden, while Germany pays the least. Data through 2024 (IMF Fiscal Monitor).
Fiscal balance (% of GDP)
General government deficit (−) or surplus (+). The US continues to run large deficits well after Covid.
External Sector
Current account balance (% of GDP)
A surplus means the economy earns more from abroad – across goods, services, primary income and current transfers – than it pays out. Germany and Japan have posted sizeable surpluses for many years; the US and the UK run persistent deficits.
Source: World Bank, data through 2024.
External sector in detail:
Selected components of the current account: goods and services balances compared with the total balance (2000–2024, % of GDP); the gap to the total reflects primary and secondary income. Germany and Italy rely on goods surpluses; the UK and the US partly offset goods deficits through services. Independent of the country filter above.
Productivity & Investment
Productivity: GDP per hour worked (PPP $)
Output per hour worked, adjusted for purchasing power (international $). The US and Germany virtually tied at the top, Japan well behind. Data through 2023.
Investment ratio (% of GDP)
Gross fixed capital formation as % of GDP – equipment, construction, software etc. Japan traditionally invests the most, the UK the least.
Working-Age Demographics
Working-age population (15–64, % of total)
The working-age share is shrinking in every G7 country – most dramatically in Japan, most slowly in the UK and the US, with Canada also comparatively resilient (immigration).
Old-age dependency ratio (65+ per 100 of working age)
How many seniors must 100 working-age people notionally support? Japan exceeds 50, with Italy and Germany next – a key burden on pension and health systems.
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G7 Economic Data, Outlook and Macro Context for Business Planning and Treasury
Economic growth, inflation and unemployment rates across the G7 countries — the United States, Canada, the United Kingdom, Germany, France, Italy and Japan — set the frame for any economic forecast and budget planning. This page documents GDP forecasts for 2026 and 2027 from the IMF World Economic Outlook alongside consensus forecasts from banks, research institutes and official bodies (including the Philadelphia Fed SPF, HM Treasury, Germany’s Joint Economic Forecast, the European Commission and JCER), plus time series back to 2000: real GDP growth, inflation trends, labour market data and a side-by-side comparison of the major advanced economies — a starting point for the economic outlook, sales planning and scenario analysis.
For funding and treasury decisions, the remaining indicators provide the macro context: government debt and fiscal deficits, sovereign interest payments, current account balances with goods and services components, investment ratios, productivity (GDP per hour worked) and working-age demographics. These macro drivers shape interest rates, bond yields and exchange rates — EUR/USD, GBP, JPY and CAD — and with them hedging costs and currency exposure in FX risk management. Data sources: IMF, World Bank, Our World in Data; as of June 2026.
