Today’s survey showed that business confidence in Germany improved more than expected in May, with growing business optimism in light of the decline in coronavirus cases and cautious steps towards resuming activities of Europe’s largest economy. The IFO Institute said its business climate index rose to 99.2 from a revised …
Read More »The German Economy Contracted More Than Expected in Q1
Data on Tuesday showed that the German economy contracted by more than expected 1.8% on a quarterly basis in the first three months of the year, as restrictions linked to the Coronavirus squandered private consumption in Europe’s largest economy. The Federal Statistics Office said gross domestic product shrank 3.1% year-on-year. …
Read More »German Producer Prices Surge 5.2% in April
Producer prices in Germany surged in April by 5.2% on an annual basis, official data showed on Thursday. Recent supply disruptions are leading to rising inflation pressure, following a 3.7% increase in producer prices in March, according to the Federal Statistical Office of Germany. On a monthly basis, producer prices …
Read More »German ZEW Economic Sentiment Index Jumps to 84 in May
The German ZEW headline numbers for May showed that the Economic Sentiment Index jumped to 84 from 70.7 previous. Meanwhile, the Current Conditions sub-index recovered to -40.1 in May as against -48.8 recorded in the previous month.
Read More »German Companies Increase Their Exports For The Eleventh Month in a Row
Data from the German Federal Statistics Office showed that German companies defied the Coronavirus crisis and raised their exports for the eleventh consecutive month, as exports grew at 1.2%, which is twice what economists had expected. However, imports also rose, as the value of Germany’s imports increased 6.5% in March …
Read More »President of German Hospital Federation: Indications of The Decline in Number of Coronavirus Cases in Germany
The head of the German Hospital Association, Gerald Gass, told the widespread newspaper Bild that the stability of the number of new cases of Covid-19 in Germany raises hopes that the burden will not be increased on intensive care units. “We are looking for the numbers of new cases to …
Read More »German Retail Sales Jump in March as Isolation Eases
Data on Monday showed that German retail sales in March recorded the largest year-on-year increase since the start of the Covid-19 pandemic, with some isolation measures eased, raising purchases of clothing and shoes. The Federal Statistical Office said that retail sales jumped 11% compared with the same period a year …
Read More »Germany Rising Its Economic Growth Estimate And Expects a Consumer-Led Recovery
The German government on Tuesday (April 27th) increased its forecast for the growth of Europe’s largest economy this year to 3.5%, from a previous estimate of 3%, while it expects household spending to support the recovery if the COVID-19 restrictions are lifted. Germany is striving to contain a third wave …
Read More »Deutsche Bank Reports Its Best Quarterly Earnings Since 2014
Deutsche Bank announced a profit of 908 million euros, equivalent to about $ 1.1 billion in Q1, supported by continued strong performance in the investment banking sector. The bank largely exceeded analysts’ forecasts for a net income of 642.95 million euros, according to Refinitiv, and showed a marked improvement from …
Read More »German Government to Lift 2021 GDP Growth Forecast
According to Reuters, the German government is expected to revise its GDP forecast to 3.5% from 3% in January. The German government believes that the economy will expand by 3.6% in 2022, and the government reportedly believes that the better-than-expected growth dynamics seen in the fourth quarter of 2020 justify …
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