Germany

European economy, In Europe 21st March 2023

Bundesbank: technical recession unavoidable for Germany in 1Q23 but decline could be less than 4Q22’s 0.4%

Link Securities | Germany’s central bank, the Bundesbank, as reflected in its Monthly Bulletin, expects Germany’s Gross Domestic Product to contract in 1Q2023 relative to the previous quarter. The Bundesbank believes that the productivity of the German economy could fall again in 1Q2023, albeit less sharply than in the previous quarter. According to the bulletin, the German economy recovered at the beginning of 2023 only with difficulty from the sharp…

European economy, In Europe 5th March 2023

German inflation exceeds expectations in February at 8.7%

BancaMarch : German inflation beat expectations in February. The preliminary index showed that consumer price growth came in at +8.7% year-on-year, two tenths above expectations and confirmed that the moderation of inflation has slowed in February. A figure that continues to put pressure on the ECB to continue raising official interest rates.

European economy 22nd February 2023

Bundesbank predicts German economy to enter mild recession in 1Q2023

Link Securities | According to the German central bank, the Bundesbank, in its monthly bulletin, and reported yesterday by Europa Press, the German economy will probably enter recession in 1Q2023 as the evolution of GDP will be weaker than in 4Q2022, when activity contracted by 0.2%. The Bundesbank also says it is confident that this contraction in economic activity will be milder than it expected in its December projections. According…

European economy, European politics 10th February 2023

France clashes with Germany and Spain over “pink” hydrogen

Banca March | The lack of support from Germany and Spain for labelling nuclear-derived hydrogen – pink hydrogen – as “green” within the European taxonomy has infuriated the French government, which claimed to have the commitment of both countries. The dispute could call into question the construction of a gas pipeline linking Germany and Spain, as well as delaying European green legislation.

European economy 7th February 2023

German industrial production falls by -3.9% year-on-year in December vs. -1.6% estimate and -0.5% previously

Banca March : There was a mixed bias in the German activity data released yesterday. On the one hand, factory orders grew by 3.2% month-on-month in December, accelerating the growth trend -the highest recorded by the indicator in thirteen months- and beating forecasts. The series is down, however, on a year-on-year basis (-10.1%), reflecting lower activity after the start of the war. In contrast, this morning we have learned about…

European economy 6th February 2023

German factory orders rise more than expected in December, easing recession fears

CoM | German factory orders last December registered a 3.2% increase over the previous month, when they fell by 4.4%, thus surpassing market consensus expectations and removing fears that the “European locomotive” will enter recession this winter. According to data released by Germany’s Federal Statistical Office (Destatis), German factory orders experienced a 10.1% decline compared with December 2021, although they were 1.2% above the level recorded in December 2019, before…

World economy 30th January 2023

Mild Winter Recession in Germany

ifo | “High inflation rates have driven the German economy into a winter recession.” This is how Timo Wollmershäuser, Head of Forecasts at ifo, responded when Germany’s Federal Statistical Office reported that economic output in the fourth quarter of 2022 had fallen by 0.2 percent. The Federal Statistical Office had originally expected growth to be flat, based on provisional figures. “The usual definition of a recession is when gross domestic…

European economy, European politics, Interviews 28th January 2023

Veronika Grimm: “the high costs of fossil energies represent a stimulus to accelerate the transformation towards renewable energies”

Lidia Conde (Francfort) | Veronika Grimm (Rendsburg, Germany, 1971) sits on the German Federal Government’s Advisory Council of Economists, which analyses the country’s economic development on the basis of scientific criteria and publishes a report every autumn in which it expresses its analyses and forecasts. Following its opinion, the government in turn responds to the council’s recommendations. Now, Grimm predicts that the economy of the continent’s leading power will shrink…

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European economy, In Europe 25th January 2023

Confidence in German economy improves. Ifo business climate index rises to 90.2 points in January, up from 88.6 in December

Ifo | This is due to considerably less pessimistic expectations. However, companies were somewhat less satisfied with their current situation. The German economy is starting the new year with more confidence. In the manufacturing sector, the index continued its upward trajectory. Companies assessed their current situation as better. Their expectations for the next six months are also noticeably better. The volume of orders is decreasing but remains at a high…

European economy, In Europe 18th January 2023

Germany: December final inflation confirms decline to 8.6% year-on-year vs. 10% in November

CoM| Germany’s year-on-year inflation rate stood at 8.6% last December, the lowest since August 2022, after the 10% recorded in November, according to the Federal Statistical Office (Destatis), which estimates a price rise of 7.9% for 2022 as a whole, compared with 3.1% in 2021.In harmonised figures, used by Eurostat in its statistics, Germany’s inflation rate in December was 9.6% year-on-year, which put the average for 2022 as a whole…

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