Tag: Germany

Euro zone interest rates remain on hold

Euro zone interest rates remain on hold

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, [...]

September 8, 2011 | 0 Comments More
OECD lowers growth prospects for major economies

OECD lowers growth prospects for major economies

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, [...]

September 8, 2011 | 0 Comments More
German exports lower than expected in July

German exports lower than expected in July

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 [...]

September 8, 2011 | 0 Comments More
Merkel and Sarkozy aim to restore confidence

Merkel and Sarkozy aim to restore confidence

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 [...]

August 17, 2011 | 0 Comments More
Germany unveils slower economic growth

Germany unveils slower economic growth

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 [...]

August 16, 2011 | 0 Comments More
Euro zone inflation falls in July

Euro zone inflation falls in July

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 [...]

July 29, 2011 | 0 Comments More
Germany and France reach agreement on second Greek bailout

Germany and France reach agreement on second Greek bailout

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 [...]

July 21, 2011 | 0 Comments More
German exports recover in May

German exports recover in May

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%. [...]

July 8, 2011 | 0 Comments More
German business confidence in surprise rise in June

German business confidence in surprise rise in June

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 [...]

June 24, 2011 | 0 Comments More
German exports fall sharply in April

German exports fall sharply in April

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 [...]

June 8, 2011 | 0 Comments More
German business confidence remains flat in May

German business confidence remains flat in May

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 [...]

May 24, 2011 | 0 Comments More
Euro zone nations reveal Q1 economic growth

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 – [...]

May 13, 2011 | 0 Comments More
German exports surge to record high in March

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 [...]

May 9, 2011 | 0 Comments More
German consumer confidence expected to fall further

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 [...]

April 27, 2011 | 0 Comments More
France revises 2012 growth forecast

France revises 2012 growth forecast

France’s Economy Minister Christine Lagarde has said the economy will expand 2.25% in 2012, revised down from a previous estimate of 2.5%. The revision was based on the fact that global demand for French goods is likely to weaken. In an interview with Les Echos reported, the minister said: “Our forecast for two percent growth [...]

April 14, 2011 | 0 Comments More
German analyst and investor confidence dives in April

German analyst and investor confidence dives in April

The Zew economic sentiment index has revealed German analyst and investor confidence fell more than forecast in April - the second consecutive monthly drop. The index, which measures expectations of economic activity over the next six months, plunged to 7.6 from 14.1 points in March. Analysts had expected the index to hover around the 10 [...]

April 12, 2011 | 0 Comments More
German economy expected to grow 2.8% in 2011

German economy expected to grow 2.8% in 2011

It looks as if Germany will continue to drive the recovery in the euro zone after forecasts said the economy will expand by 2.8% this year. In a closely monitored twice-yearly report, the country’s leading economic institutes upwardly revised an earlier forecast of 2% growth. The report said: “In the spring of 2011, the world [...]

April 8, 2011 | 0 Comments More
German trade surplus narrows in January

German trade surplus narrows in January

Statistics office Destatis has today revealed German exports unexpectedly fell 1% in January on the month after a 0.5% rise in December. However, on an annual basis, exports were up 24.2%. Germany is the world’s second largest exporter after China and export demand helped to bring Germany out of recession in the second quarter of [...]

March 10, 2011 | 0 Comments More
German retail sales up second month in a row

German retail sales up second month in a row

Federal Statistical Office, Destatis, has today revealed German retail sales grew for a second consecutive month in January. According to Destatis, retail sales rose 2.6% in January on an annual basis - boosted by falling unemployment. Earlier this week, the Federal Labour Office said there was a further fall in the number of people out [...]

March 3, 2011 | 0 Comments More
German unemployment falls further in February

German unemployment falls further in February

Germany, which is Europe’s largest economy, saw a further fall in the number of people out of work in February to 3.07 million - the lowest since September 1992. The Federal Labour Office said unemployment dropped by 52,000 in February, taking the unemployment rate to 7.3%, from January‘s 7.4%. The country’s job market has performed [...]

March 1, 2011 | 0 Comments More