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Keyword: germanyeconomy

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  • Eurozone economy 'losing momentum' as Germany falters

    09/05/2016 6:03:31 AM PDT · by Olog-hai · 11 replies
    Associated Press ^ | Sep 5, 2016 5:29 AM EDT | Pan Pylas
    The 19-country eurozone lost some economic momentum in August, largely because of a slowdown in Germany, a closely watched survey showed Monday, days ahead of another possible stimulus package from the European Central Bank. Financial information company IHS Markit said its purchasing managers’ index — a broad gauge of economic activity — for the eurozone fell to a 19-month low of 52.9 points in August from 53.2 the previous month. The fall was unexpected as the initial estimate for August was 53.3. In spite of the fall, the eurozone is still growing, albeit sluggishly as anything above 50 indicates expansion....
  • German Stats Office Reports Shock Drop in July Exports, Imports

    09/09/2016 11:58:48 AM PDT · by Lorianne · 15 replies
    Street, the ^ | 09 September 2016 | Larua Board
    German imports and exports unexpectedly shrunk in July, with a sharp export contraction causing a surprise narrowing in Germany's trade balance. Federal Statistical Office data showed seasonally adjusted exports fell by 2.6% - analysts had expected about 0.3% growth - whereas imports fell by 0.7%, as against expectations for a 0.8% rise. On the year exports slumped by 10% and imports shriveled by 6.5%. The foreign trade balance shrunk to €19.4 billion ($21.9 billion) from €21.4 billion in June, as against expectations for a balance of €22 billion. The Federal Statistical Office said the pace of German exports to other...
  • Wrath of Draghi Hits Germans who Refuse to Blow their Savings

    05/07/2016 11:18:22 AM PDT · by Lorianne · 18 replies
    Wolf Street ^ | 05 May 2016 | Don Quijones
    As Draghi said in a speech to Asian government officials and business leaders on Monday, there’s still a great deal more that can be done to punish Europe’s hordes of savers, the central banker’s scapegoat du jour for all that ails Europe’s debt-laden economy. The low or negative interest rates plaguing Europe are a symptom of a much bigger problem, he said: the compression of investment returns due to a massive global savings glut. To our great amazement, it’s this purported glut — and not his monetary policies — that lies behind the historic decline in interest rates. Inevitably, whenever...
  • Germany readies itself for more woe as scandal and slowdown hit economy

    10/12/2015 12:08:32 PM PDT · by Lorianne · 2 replies
    Guardian UK ^ | 10 October 2015 | Heather Stewart
    When the German football team lost 1-0 to the Republic of Ireland on Thursday night in a European championship qualifying match, it capped a grim week for national pride. The shock defeat on the football field followed the ritual grilling of Michael Horn, the US boss of disgraced car-maker Volkswagen, by the US Congress; record losses at the country’s biggest bank, Deutsche Bank; and a clutch of dire economic figures, including the sharpest drop in exports since 2009. Suddenly, the health of Germany’s economy, powerhouse of the 19-member eurozone, is under question, just as the slowdown in emerging markets, including...
  • The Outlook For Germany In One Word: 'Grim'

    08/12/2014 12:59:21 PM PDT · by Lorianne · 13 replies
    Business Insider ^ | 12 August 2014 | Sam Ro
    Confidence in Germany is crumbling. The ZEW investor confidence survey index plunged to 44.3 in August from 61.8 a month ago. This was much worse than the 54.0 expected by economists. To make things worse, the expectations index crashed to 8.6 from 27.1. This was the lowest reading since December 2012. Economists were expecting 17.0. "In one line: Grim, as slump in investor sentiment deepens," said Pantheon Economics' Claus Vistesen. "Given the recent sharp drawdown in equities, a drop in sentiment was expected, but the decline was larger than anticipated, reinforcing downside risk to the economy." Some of this deterioration...
  • Germany rebuffs US criticism of its growth model

    10/31/2013 11:49:04 PM PDT · by TexGrill · 8 replies
    BBC News ^ | 11/01/2013 | BBC
    Germany has hit back at US criticism of its export-led growth model, describing the attack as "incomprehensible". The rebuff came after a US Treasury report said Germany's dependence on exports for growth was hurting the eurozone and the wider global economy. It also said that domestic demand growth in Germany had been "anaemic". But Germany's finance ministry said there were "no imbalances" in its economy and that its current account surplus was not a cause for concern. A surplus happens when a country's income from exports is greater than its import bill. In its report, the US Treasury said that...
  • Merkel's conservatives triumph in Bavaria (Germany)

    09/15/2013 8:23:11 PM PDT · by TexGrill
    Korea Herald ^ | 09/16/2013 | AP
    German Chancellor Angela Merkel's conservative allies triumphed in Bavaria's state election Sunday, a week before the whole country votes, though a painful setback for her coalition partners added to uncertainty over the outcome of the national election. The Merkel-allied Christian Social Union, traditionally the dominant force in the prosperous southern region, won 47.7 percent of the vote, official results showed. It won back a majority in the state legislature it humiliatingly lost in 2008, gaining more than four percentage points. “This election gives us tailwind for the national election,” said Hermann Groehe, the general secretary of Merkel's Christian Democratic Union....
  • German home-schooled children taken into care

    09/04/2013 11:32:44 PM PDT · by TexGrill · 25 replies
    BBC News ^ | 09/03/2013 | BBC
    A court in central Germany has ordered four children to be taken into care because their parents refused to stop home-schooling them. The parents are deeply religious and have even refused to send the children to a Christian private school, saying they wanted to keep them away from "undesirable influences". The children, aged 8 to 14, were taken from their home in Darmstadt in a police raid last Thursday. Home-schooling is banned in Germany. Officials said the parents had kept their children away from the outside world. The children were taken into care as a last resort, in order to...
  • EU: Eurozone recession hits Germany hard

    02/14/2013 9:32:20 AM PST · by bruinbirdman · 8 replies
    The Telegraph ^ | 2/14/2013 | Philip Aldrick
    Germany's economy collapsed by 0.6pc in the final three months of last year as the eurozone recession finally caught up with the currency bloc’s most powerful member. A sharp fall in exports from the region’s trading hub caused the larger-than-expected decline, as official figures showed that the eurozone as a whole slumped 0.6pc in the quarter, the worst performance in over three years. The currency area has contracted for three quarters running and by 0.5pc for the year as a whole. It is 1pc smaller than in September 2011. Economists had expected Germany to be hit by the bloc’s waning...