In a survey conducted by the German IFO Institute this morning about the auto industry in Germany, the results of the survey showed signs of recovery soon. However, expectations are still below 50. This comes after the latest data of Eurozone, which indicated the improvement of the manufacturing sector in …
Read More »The First Growth of the German Factory Activity Since December 2018
A survey on Monday showed that German manufacturers witnessed an expansion in July for the first time since December 2018, which indicates a continued recovery in the sector. The IHS Market index of manufacturing purchasing managers, which contributes about a fifth of the economy, rose to 51.0 in July, exceeding …
Read More »German GDP Contracts by 10% in Q2
Germany’s gross domestic product (GDP) recorded its worst decline on record during the second quarter (Q2) of 2020, contracting by 10.1%, as shown by preliminary official data. Moreover, the German economy contracted by 11.7% on annual basis during Q2 of 2020. The COVID-19 crisis has negatively impacted Germany and much …
Read More »German GDP Shrinks at Record Rate in Q2
The German economy contracted in the second quarter of 2020 by 10.1% vs. -9.0% expected, it’s the biggest decline on record, as shown by preliminary data on Thursday. On a yearly basis, the German gross domestic product (GDP) contracted 11.7% vs. -10.9% decline expected by analysts, according to the German …
Read More »Germany’s Unemployment Rate Declined in July
The seasonally adjusted unemployment rate in Germany came in at 6.4% in July vs. 6.5% expected. The figure is better than expected by analysts. Data released earlier beat expectations with the unemployment change falling by 18k in seasonally adjusted terms compared to estimates of an increase of 43k. The adjusted …
Read More »German PMI Rises in July
The German economy maintained its move towards recovery during July, according to the latest flash purchasing manager’s index (PMI) data by IHS Markit. The headline Germany Composite Output Index rose sharply again in July, recovering further from a record low in April. The index recorded 55.5 in July, up from …
Read More »German ZEW Misses Estimates
Data released on Tuesday showed that the German ZEW Economic Sentiment Index came in at 59.3 versus 60.0 expected and 43.4 last. While the sub-index Current Conditions figure arrived at -80.9 in July compared to -65.0 expected and -83.1% previously recorded. Meanwhile, the Eurozone ZEW economic sentiment for July came …
Read More »Germany Doubtful of an EU Agreement on COVID-19 Fund
German Chancellor Angela Merkel expressed doubts regarding whether members of the European Union will reach an agreement on the coronavirus recovery fund or not. An EU summit will discuss on July 17-18 the planned EUR 750 billion ($840 billion) economic stimulus package. The meeting will also discuss the next seven-year …
Read More »German Wholesale Price Index Rebounded in June
Wholesale prices in Germany recovered during Jun compared to May. Data released by the Federal Statistical Office of Germany on Monday showed that the wholesale price index in Germany increased by 0.6% in June, compared to 0.6% in May. The wholesale price index in Germany fell on an annual basis …
Read More »German Exports Rebounded Less Than Expected
German exports rebounded less than expected in May, as data released on Thursday showed; demand remained weak despite the easing of lockdown measures that had been imposed to contain the spread of the virus. The Federal Statistical Office said that seasonally adjusted exports increased by 9% on a monthly basis …
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