Tag: Germany

BERLIN, Sept 28 (Reuters) – German inflation fell in September to its lowest level since Russia launched its full-scale invasion of Ukraine, signalling what could be the beginning of the end for the high inflation that has weighed heavily on Europe’s largest economy.

Consumer confidence in Germany weakened for the second consecutive month in data for October, as consumers prioritized more savings over spending amid a gloomy economic picture.

Business sentiment in Germany weakened even further in September, the fifth consecutive month of decline, with the economic outlook remaining bleak in Europe’s largest economy, according to a survey of companies.

The German government will downgrade its economic forecast for this year to a contraction of as much as 0.3%, Bloomberg News reported on Wednesday, citing a person familiar with the revised forecast.

Germany is set for a prolonged recession this year — the only major European economy to experience an economic contraction during 2023, according to fresh forecasts by the European Commission, the executive arm of the EU.

German industrial orders fell more than expected in July, pulling back after a sharp gain in the aerospace sector the previous month, the federal statistics office said on Wednesday.

A key German market research index has predicted a slight dip in consumer confidence for September. The figure has been hovering in unusually low territory for months now.

Germany’s economy stagnated in the second quarter from the previous three months, showing no sign of recovery from a winter recession and cementing its position as one of the world’s weakest major economies.

Consumer confidence recovered in Germany for August, a rebound from a decline in the month before, amid improved expectations for cooling inflation in the eurozone’s largest economy.

Germany and France kicked off the third
quarter with contractions in their private-sector economies,
with sustained weakness in manufacturing seeing increased
spillover to services.

German investor confidence slipped in July, a key survey showed Tuesday, adding to fears of a deeper downturn in Europe’s biggest economy.

German inflation rose more than expected in June, interrupting a steady decline since the start of the year and suggesting a bumpy road ahead.

German business morale worsened for the second consecutive month in June, a survey showed on Monday, indicating that Europe’s largest economy faces an uphill battle to shake off recession.

German industrial orders unexpectedly fell again in April following a sharp drop the month before, official data showed Tuesday, adding to concerns about the health of Europe’s biggest economy.

The downside miss was already foreshadowed by the state readings earlier and this marks the lowest level in annual headline inflation in Germany since February last year.

The German economy entered a technical recession in the first quarter of this year, as households tightened spending.

German Finance Minister Christian Lindner hopes American lawmakers will be “mature” over the debt ceiling negotiations to avoid further headwinds for the global economy.

German travel firm TUI said it expects strong revenue and higher profit in 2023 on the back of a jump in summer bookings, despite the risk of travel disruption triggered by strikes.