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News Tag: Germany

October 20, 2011

German Government slashes economic growth forecast

by Kay Mitchell
”German
The German Government has today slashed its growth forecasts for the euro zone’s largest economy. The Government said it now expected the economy to expand by 1% in 2012, down from an earlier estimate of 1.8%. Meanwhile, this year’s forecast has been lowered slightly to 2.9% from 3%. Its downgrade comes just a week after Germany’s leading economic institutes cut their growth forecasts for ...




October 13, 2011

Euro zone’s ‘powerhouse’ expected to slow

by Kay Mitchell
”Euro
Growth in the Germany economy, which is the euro zone’s largest, is expected to slow sharply next year as the ongoing debt crisis persists. In a closely monitored twice-yearly report, Germany’s leading economic institutes have slashed their growth forecasts for the economy from 2% next year to 0.8%, citing the debt problems in the euro zone. The report will raise questions about the ...




October 10, 2011

David Cameron urges action for euro zone

by Kay Mitchell
”David
British Prime Minister, David Cameron, is urging European leaders to take "decisive steps" to deal with the debt crisis. Mr Cameron said the crisis is putting the global economy in a "precarious" situation and told leaders of the 17-member nation they had a "collective responsibility" to avoid a disaster. Mr Cameron told the Financial Times on Monday: "We need to push, but ...




September 30, 2011

German unemployment hits lowest level in 20 years

by Kay Mitchell
”German
Official data has revealed unemployment in Germany dropped to its lowest level in more than 20 years in September. The country’s unemployment rate fell from August’s rate of 7% to 6.6%. Unemployment now stands at 2.79 million – the first time since 1992 that the jobless total has been below 2.8 million. It was also much better than economists had expected. The country’s ...




September 26, 2011

Ifo: German business confidence falls for third straight month

by Kay Mitchell
”Ifo:
The Munich-based Ifo think tank has today revealed confidence among German firms fell for the third consecutive month in September. The closely-watched Business Climate Index dipped to 107.5 this month from August’s reading of 108.7 - this represented the lowest level since June 2010. However, the fall was not as bad as the 106.5 economists had expected. The fall ...




September 20, 2011

German analyst and investor confidence down in September

by Kay Mitchell
”German
The Zew economic sentiment index has revealed German analyst and investor confidence fell to a 2½ year low in September as the ongoing euro zone debt crisis and fears of a global slowdown dampened sentiment. The index, which measures expectations of economic activity over the next six months, fell for the seventh consecutive month to -43.3 from August’s reading of ...




September 8, 2011

Euro zone interest rates remain on hold

by Kay Mitchell
”Euro
The European Central Bank (ECB) has today opted to leave interest rates unchanged at 1.5% - for the second consecutive month. Rates were lifted from the historic low of 1% in April and then raised further to 1.25% in July in a bid to curb rising inflation. Many major economies are battling with higher inflation, which is rising due to higher energy, ...




OECD lowers growth prospects for major economies

by Kay Mitchell
”OECD
The Paris-based Organisation for Economic Cooperation and Development (OECD) has revised its growth forecasts for major economies. The US, which is the world’s largest economy, is expected to see growth in the third quarter of 1.1% and 0.4% in the fourth – this is far lower than the previous estimates of 2.9% and 3%. However, an unexpected sharp downgrade comes ...




German exports lower than expected in July

by Kay Mitchell
”German
Statistics office Destatis has today revealed German exports and imports fell in July – more than expected. According to Destatis, exports fell by 1.8% in July on a monthly basis compared with a 1.2% drop in June. Economists had forecast a 0.1% fall for the month. The sharp fall in exports will be of grave concern for the country’s Government. Export demand helped ...




August 17, 2011

Merkel and Sarkozy aim to restore confidence

by Kay Mitchell
”Merkel
French President Nicolas Sarkozy and German Chancellor Angela Merkel have pledged to put an end to the debt crisis and restore confidence in the euro. The two leaders of the euro zone’s largest economies last night called for “true economic governance” for the region and wants bi-annual meetings of the 17 leaders of the euro zone Governments. Mr Sarkozy said: "This economic ...




August 16, 2011

Germany unveils slower economic growth

by Kay Mitchell
”Germany
Germany, which is the euro zone’s largest economy, has today reported slower growth for the second quarter. According to figures from Destatis, the German economy grew by just 0.1% in the April to June period – much less than the 0.5% expected by analysts. The figures will undoubtedly be a disappointment since Germany has been driving the recovery in the euro zone. The economy posted ...




July 29, 2011

Euro zone inflation falls in July

by Kay Mitchell
”Euro
According to a preliminary estimate from Eurostat today, euro zone inflation eased in July to 2.5% from 2.7% in June. The figures come despite figures earlier this week suggesting German inflation crept up to 2.4%. Despite the fall, inflation remains higher than the ECB’s target of just below 2% – and is expected to remain above target for the short-term at least. Earlier ...




July 21, 2011

Germany and France reach agreement on second Greek bailout

by Kay Mitchell
”Germany
Late night talks between German Chancellor Angela Merkel and French President Nicolas Sarkozy have led to a common position on a second bailout for Greece. After seven hours of talks in Berlin, sources said both parties had also discussed their efforts to prevent the debt crisis spreading through the rest of Europe. However, full details have yet to be published. ...




July 8, 2011

German exports recover in May

by Kay Mitchell
”German
Statistics office Destatis has today revealed German exports and imports recovered in May, giving a trade balance of €14.8 billion from €10.8 billion the previous month. According to Destatis, exports were 4.3% higher on the month at €92.1 billion (£82 billion), higher than forecasts of a 1.5% rise and recovering from April’s fall of 5.6%. Meanwhile, imports rose by 3.7% on a monthly basis. On ...




June 24, 2011

German business confidence in surprise rise in June

by Kay Mitchell
”German
The Munich-based Ifo think tank has revealed confidence among German firms unexpectedly rose in June. The closely-watched Business Climate Index grew to 114.5 in June from May’s reading of 114.2, confounding analysts’ expectations of a fall to 113.4. The index is now close to a record high of 115.4 recorded earlier this year. However, a sub-index on expectations edged ...




June 8, 2011

German exports fall sharply in April

by Kay Mitchell
”German
Statistics office Destatis has today revealed German exports and imports fell in April, giving a trade surplus of €10.9 billion. According to Destatis, exports fell by 5.5% on a monthly basis to €84.3 billion (£75.6 billion) – much more than analysts had expected and the sharpest decline since January 2009. Meanwhile, imports were 2.5% lower on a monthly basis at €73.4 billion. Exports ...




May 24, 2011

German business confidence remains flat in May

by Kay Mitchell
”German
The Munich-based Ifo think tank has revealed confidence among German firms remained flat in May. The closely-watched Business Climate Index remained unchanged at 114.2 in May, surprising analysts’ who had expected the index to slip to 113.7. Ifo surveys around 7,000 German manufacturing, construction, wholesale and retail companies each month. Export demand helped to bring Germany out of recession in ...




May 13, 2011

Euro zone nations reveal Q1 economic growth

by Kay Mitchell
Euro zone nations reveal Q1 economic growth
The euro zone's largest economy, Germany, grew by 1.5% in the January to March period – much better than forecast, according to Destatis today. On an annual basis, growth jumped 5.2% - the largest increase since reunification in 1990. Export demand helped to bring Germany out of recession in the second quarter of 2009 – much sooner than many of ...




May 9, 2011

German exports surge to record high in March

by Kay Mitchell
German exports surge to record high in March
Statistics office Destatis has today revealed German exports rose to a record high in March, driving its trade surplus up. Exports rose 7.3% in March on a monthly basis to €98.3 billion (£87 billion), while imports also rose to a record high, by 3.1% on a monthly basis, to €79.4 billion. A statement said: "That was the highest monthly ...




April 27, 2011

German consumer confidence expected to fall further

by Kay Mitchell
German consumer confidence expected to fall further
Consumer confidence in Germany, which is the euro zone’s largest economy, is expected to fall further in May, according to the GfK research group. The market research company said its forward looking consumer sentiment index, based on a survey of about 2,000 people, will fall to 5.7 in May from April's reading of 5.9. The survey suggests that consumers are struggling with higher ...