The German government has predicted the country will see just 0.2% growth in 2024 – a development the finance minister has described as “dramatically bad”. Speaking in Leipzig, finance minister Robert Habeck – tipped by many as Germany’s next Chancellor – warned the nation could not continue as it had, indicating drastic action may be…
German businesses are “significantly” reducing their investment plans, according to the latest economic survey from the country’s ifo Institute. The Munich-based organisation said the investment climate within Germany had “deteriorated noticeably” as a result of higher financing costs, weak demand and uncertainty around economic policy. Companies that specialise in trade, it said, were the most…
The cost-of-living crisis is biting in Germany, with reports this week of surging food inflation and a collapsing fibreoptic sector. The German financial newspaper Handelsblatt ran the two reports, stating in one that food inflation within the country had reached 97% for some items. App company smhaggle had compared prices for the paper, concluding that…
The Halle Institute for Economic Research (IWH) has predicted Germany’s GDP will fall by 0.6 percentage points over 2023, a sharp revision to previous predictions. One of the most-prominent economic organisations on the continent, the IWH has called its new forecast a “strong downward revision” of 0.9 percentage points. It cited a slower recovery in…
The economies of Europe have proved a drag on worldwide economic growth, according to new work from the OECD. The organisation’s Interim Report September 2023: Confronting Inflation and Low Growth found global GDP advanced at an annualised pace of 3.2% in the first half of the year. While growth was strong in the US and…
Three major property developers in Germany have gone into insolvency in the space of two months. According to reports from Berlin, Centrum Group, Development Partner and Euroboden have all begun to declare bankruptcy in recent weeks due to financial problems caused by a constraint on the nation’s property markets. A report from Reuters suggested Euroboden…
Focused on growing a ‘Technology Campus’
The Destatis agency said German CPI reached 6.4 per cent in June
Individual investors in Germany have identified inflation as their biggest concern, according to a report from Natixis Asset Managers. Almost three-quarters (71%) of respondents in Germany told the Natixis Global Survey of Individual Investors that inflation was their biggest fear – compared with 58% of respondents globally. This comes at a time when inflation in…
German economy contracted 0.5% in Q4 2022
Asset manager DWS has restructured some of its senior management team, reports from Germany have indicated. As reported by the German site Fonds Online, Björn Jesch, the firm’s global head of investment, has seen his duties transferred to Vincenzo Vedda, head of active at the firm, with immediate effect. Fonds Online quoted a message it…
Mercedes has signalled its intentions to invest billions in Europe into new plants in Germany and Hungary. According to multiple news sources, the automotive giant has said it will build plants in Rastatt, Germany, and Kecskemet, Hungary. Jörg Burzer, the automaker’s production chief, reportedly told German publisher Automobilwoche the firm would begin building the Rastatt…
