Germany

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Sentiment of German exporters down for the third time in August

The German Institute for Economic Research (Ifo) reported that German exporters’ sentiment fell for the third consecutive month in August 2022, due to high gas prices and the weak global economic environment affecting the economic outlook. Ifo exporter expectations fell to -2.7 points in August, following -0.4 points in July. While most of the industry …

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German manufacturing purchasing managers’ index was down in July after new orders and retail sales fell 8.8% in June

According to S&P Global, the manufacturing sector in Germany contracted in July. This was the first time in more than 2 years that it had been hit by a sharp drop in new orders, which had weighed on the outlook for the German economy. The Purchasing Managers’ Index (PMI) for the manufacturing sector in Germany, …

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Industrial production in Germany with weak growth in May

Industrial production in Germany increased by only 0.2% in May, below analysts’ estimates. Analysts had previously expected an increase of 0.4%, following growth of 1.3% in April. According to the Federal Statistical Office, shortages of intermediate products and problems in the supply chain were the main reasons for the low growth. Energy production fell particularly …

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S&P Global: Eurozone, German and French PMIs fall more than expected

The S&P Global Purchasing Managers’ Index (PMI) for the eurozone manufacturing and services sectors fell to 51.9 in June 2022 from 54.8 in May. Chris Williamson, the chief business economist at S&P Global Markets Intelligence, wrote, “The seasonally adjusted S&P Global Eurozone PMIĀ® Composite Output Index fell from 54.8 in May to 51.9 in June, …

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German Bundesbank Cuts GDP Forecast for 2022 by More than Half

The German Bundesbank today (June 10) lowered its forecasts for German economic growth and expects inflation to rise significantly. Rising food and fuel prices are affecting household purchasing power and confidence. The Bundesbank expects inflation to rise by 7.1% in 2022, higher than the December forecast of 3.6% and raises the inflation rate for 2023 …

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