Norbolsa | The Bundesbank issued a warning about the growing risk of financial instability looming over Germany, citing factors such as the erratic trade policy of the United States, overvalued stock markets, excessive debt levels in various parts of the world and deteriorating bank credit quality. It thus made a more negative risk assessment, contrasting with the ECB’s assessment, and saw a greater risk to growth, amplified by tariffs.

Bankinter | Industrial production in September was once again weaker than expected, falling by 1.0% year-on-year, compared to an estimated rise of 0.1% and a 3.9% drop previously. In month-on-month terms, it rebounded by 1.3% versus 3.0% expected and after the sharp fall seen in August (4.3%), which was the largest since 2022, mainly due to the18.5% fall in car production. Analysis team’s view: Negative data, although we do not…

Link Securities | Germany’s business climate index, compiled by the IFO institute, fell to 87.7 points in September from 88.9 points in August, significantly below the 89.2 points expected by FactSet analysts. September’s reading is the lowest for this index since last May. It also represents the sharpest monthly decline in the last 12 months, reflecting growing pessimism among German companies.In September, the sub-index reflecting German companies’ expectations fell to…

Norbolsa | On Thursday, the German parliament approved the first budget after the radical reforms carried out at the beginning of the year to relax fiscal rules, including record investment to stimulate the economy in tandem with a commitment to increase defence spending. The budget includes a total investment of €116 billion, made possible by the €500 billion infrastructure fund and the exemption from considering defence spending as debt approved…

Link Securities | The index, which measures the perception of the German economy by large institutional investors and analysts, compiled by the ZEW institute, rose in September to 37.3 points from 34.7 points in August, exceeding the 27.6 points expected by FactSet consensus analysts. Meanwhile, the index that assesses this group’s perception of the current situation of the German economy fell in September to -76.4 points from -68.6 points in…

Intermoney | Not everything in Germany is a problem of US commercial aggression. According to the Bundesbank, the German economy could have grown by 50% more between 2021 and 2024 if its export industries had not been held back by problems such as labour shortages and bureaucracy. The central bank’s simulation suggests that German GDP would have expanded by 2.4 percentage points more during the period if exports had kept…

Norbolsa | The German government will back a draft budget for 2026 on Wednesday that includes record investment of €126.7 billion and a loan of €174.3 billion as part of its fiscal bazooka for infrastructure and defence. The draft budget for 2026, with total spending of €520.5 billion, includes €126.7 billion in investments aimed at modernising the country (10% above 2025 and 70% above 2024).