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 …
Sentiment of German exporters down for the third time in August Read More »
The German business climate index has fallen to its lowest level since June 2020. The reason for this is the great uncertainty caused by the war in Ukraine and concerns that the economy will slump in Q3 2022. The German economic research institute Ifo reported that the index of German business climate fell for the …
As reported by the German Federal Statistical Office (Destatis), the producer price index (PPI) rose by 5.3% in July compared with the previous month. This is the strongest increase since data collection began. According to the report, energy prices increased by 105% year-on-year. This is mainly due to a 163.8% year-on-year increase in natural gas …
As reported by the German Federal Statistical Office (Destatis), the inflation rate in Germany decreased in July. This corresponds to the first estimate. According to final data from Destatis, the consumer price index (CPI) rose 7.5% year on year in July. This is in line with economists’ predictions in the Wall Street Journal survey and …
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, …
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 …
Industrial production in Germany with weak growth in May Read More »
According to the German Federal Statistical Office (Destatis), Germany recorded a trade deficit in May due to a decline in the value of exports and an increase in imports amid rising energy costs. Germany recorded a trade deficit of EUR 1 billion ($1.04 billion) in May, following a record trade surplus of EUR 3.1 billion …
Germany with trade deficit in May due to rising import costs Read More »
The German Labor Office reported that the unemployment rate in Germany rose to 5.3% in June 2022, seasonally adjusted, as Ukrainian refugees registered with the Labor Office to find work in Germany. According to the report, the number of unemployed in Germany rose by 133,000 in June to 2.417 million, seasonally adjusted. In a Reuters …
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 PMI® Composite Output Index fell from 54.8 in May to 51.9 in June, …
S&P Global: Eurozone, German and French PMIs fall more than expected Read More »
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 …
German Bundesbank Cuts GDP Forecast for 2022 by More than Half Read More »