Germany’s economy shrank for the second consecutive year in 2024
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1 day, 2 hours ago

Germany’s economy shrank for the second consecutive year in 2024

Associated Press  

BERLIN — Germany’s economy shrank for the second straight year in 2024 as worried consumers held back on spending and Chinese competition ate into the country’s traditional exports of cars and industrial machinery. The year’s weak performance underlines Germany’s status as Europe’s worst performing major economy and shows the country as having no meaningful growth in the past four years as it has struggled to deal with major shifts in the global economy. “German exports shrank although world trade increased in 2024.” “The German economy is mired in stagnation,” said Nils Jannsen of the Kiel Institute for the World Economy. And prospects for growth in the coming year are “gloomy,” he said, with the “sword of Damocles” hanging over the export-oriented economy from possible new U.S. trade measures such as higher tariffs on imported goods from the incoming administration of President-elect Donald Trump, who takes office on Monday.

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Battling political crisis, Germany’s economy shrinks in 2024 for second straight year
1 day, 1 hour ago

Battling political crisis, Germany’s economy shrinks in 2024 for second straight year

Firstpost  

Gross domestic product in the eurozone’s largest economy declined 0.2 percent last year, according to preliminary figures from federal statistics agency Destatis, coming after a 0.3 percent contraction in 2023. File image/ Reuters The German economy contracted for a second straight year in 2024, official figures showed Wednesday, with little hope of a strong recovery ahead as Europe’s top economy …

German manufacturing sector mired in downturn in November, PMI shows
1 month, 2 weeks ago

German manufacturing sector mired in downturn in November, PMI shows

Hindustan Times  

BERLIN, - Germany's manufacturing sector remained firmly entrenched in contraction territory in November as firms struggle with weak demand and competitive pressure, highlighting ongoing challenges for Europe's largest economy, a survey showed on Monday. German manufacturing sector mired in downturn in November, PMI shows The HCOB Germany Manufacturing Purchasing Managers' Index, compiled by S&P Global, held steady at 43.0, unchanged …

Germany goes kaput: How Net Zero is killing Europe's most efficient industrial machine
1 month, 2 weeks ago

Germany goes kaput: How Net Zero is killing Europe's most efficient industrial machine

Daily Mail  

Earlier this year, an acquaintance was encouraged to purchase an electric vehicle as his company car. The country’s Luddite attitude to new tech and IT, an obsession with old-style manufacturing and a snail-like adjustment to greener energy have left the Germany in the slow lane. While the world’s eyes were focused on Washington and the US election result on November …

Germany’s economy is in trouble. The government’s collapse and Trump’s return bring more risk
2 months, 1 week ago

Germany’s economy is in trouble. The government’s collapse and Trump’s return bring more risk

Associated Press  

WARSAW, Poland — The collapse of Germany’s governing coalition and President-elect Donald Trump’s imminent return to the White House are creating new risks for the European Union’s biggest economy, already in a troubling decline. “At the European level, political instability in Germany is not good news,’' Antonio Villafranca, vice president of the Italian think tank ISPI, said, noting that a …

Germany: Europe’s biggest economy is in crisis. Just look at Volkswagen
2 months, 2 weeks ago

Germany: Europe’s biggest economy is in crisis. Just look at Volkswagen

CNN  

London CNN — Germany narrowly escaped a recession in the third quarter, official data showed Wednesday, offering some relief to Europe’s biggest economy as its fortunes falter. “The biggest worry is currently the big pessimism in Germany,” said Marcel Fratzcher, president of the German Institute for Economic Research in Berlin. “We are not experiencing a crisis in the automotive industry, …

How Germany blew up its economy
4 months, 3 weeks ago

How Germany blew up its economy

The Telegraph  

This strong backbone of businesses powered export-led growth, enabled in part by a political willingness to trade heavily with China and to rely on cheap Russian gas. “China’s slowdown has led to a decline in demand for the sort of goods Germany is very good at exporting,” says Chris Williamson, chief business economist at S&P Global. “We saw a slump …

Europe’s growth lags US again, as Germany remains the eurozone’s economic problem child
5 months, 2 weeks ago

Europe’s growth lags US again, as Germany remains the eurozone’s economic problem child

Associated Press  

FRANKFURT, Germany — Europe’s economy saw modest growth in the April-June quarter even as the U.S. outperformed expectations, highlighting a persistent transatlantic growth gap. Europe’s growth is also held back by longer-term factors such as higher taxation and burdensome regulation that will mean average annual real GDP growth rates at least one percentage point lower than in the U.S., said …

Gloom settles over Germany’s economy, with businesses downbeat about the coming months
10 months, 3 weeks ago

Gloom settles over Germany’s economy, with businesses downbeat about the coming months

Associated Press  

FRANKFURT, Germany — Germany’s businesses remain mired in pessimism, a key survey showed Friday, as Europe’s largest economy struggles with shortages of skilled labor, slower global trade, high interest rates and political squabbling. The closely watched Ifo institute survey of business sentiment rose only slightly to 85.5 points in February from 85.2 points in January due to “slightly less pessimistic …

Germany says Europe’s largest economy is in ‘troubled waters’ and cuts its growth forecast
10 months, 3 weeks ago

Germany says Europe’s largest economy is in ‘troubled waters’ and cuts its growth forecast

Associated Press  

FRANKFURT, Germany — The German government said Europe’s largest economy was in “troubled waters” and slashed its growth forecast for this year as it struggles with a lack of skilled labor, excessive bureaucracy, high interest rates and lagging investment in new projects — while a relatively modest set of tax breaks for business remains blocked in the legislature. “The economy …

Europe’s biggest economy shrank last year as Germany struggles with multiple crises
1 year ago

Europe’s biggest economy shrank last year as Germany struggles with multiple crises

Associated Press  

FRANKFURT, Germany — Germany’s economy shrank 0.3% last year as Europe’s former powerhouse struggled with more expensive energy, higher interest rates, lack of skilled labor and a homegrown budget crisis. The International Monetary Fund expected Germany to be the worst-performing major developed economy last year, a major turnaround from its place as a model for how to expand when other …

Germany’s economy seen shrinking again in the current quarter as business confidence declines
1 year ago

Germany’s economy seen shrinking again in the current quarter as business confidence declines

Associated Press  

BERLIN — Germany’s economy is likely to shrink again slightly in the current fourth quarter, the country’s central bank said Monday, while a survey showed business confidence retreating unexpectedly. The Bundesbank said in its monthly report that “real gross domestic product in Germany is likely to decline again slightly in the fourth quarter of 2023” as a result of weak …

Germany, now the world’s worst-performing major economy, grapples with a budget crisis
1 year, 1 month ago

Germany, now the world’s worst-performing major economy, grapples with a budget crisis

LA Times  

German Chancellor Olaf Scholz delivers a speech on the government’s budget crisis at the Parliament in Berlin. Chancellor Olaf Scholz vowed recently that his government would work “as fast as possible” to lay out how to solve Germany’s budget crisis, but he offered few details on how he would achieve his goals of promoting clean energy after a court decision …

German economy sinking in recession in 2023, predicts European Commission
1 year, 4 months ago

German economy sinking in recession in 2023, predicts European Commission

Live Mint  

Bearing the brunt of high inflation driven by factors like Russia-Ukraine crisis, German economy is expected to contract in 2023, predicted European Commission on Monday. The recent cut in forecast has come at a time when Euro's biggest economy is facing high inflation and the spill over effect of Russia-Ukraine war. Euro zone expected to grow slower, says EC The …

German central bank sees the economy stagnating again in the 3rd quarter
1 year, 4 months ago

German central bank sees the economy stagnating again in the 3rd quarter

Associated Press  

BERLIN — Germany’s central bank anticipates that the country’s economy, Europe’s biggest, will be more or less stagnant again in the current quarter — adding to a string of weak performances. German gross domestic product stagnated in the second quarter after declining in both of the two previous quarters as the country struggled with high energy prices, rising borrowing costs …

Germany used to be the world’s export powerhouse. Now, it’s not growing. What happened?
1 year, 5 months ago

Germany used to be the world’s export powerhouse. Now, it’s not growing. What happened?

Associated Press  

FRANKFURT, Germany — The German economy is still failing to grow, figures showed Friday, as the country that should be the industrial powerhouse for all of Europe struggles with high energy prices, rising borrowing costs and a lagging rebound from key trading partner China. It comes after the International Monetary Fund forecast this week that Germany would be the globe’s …

Germany used to be the world's export powerhouse. Now, it's not growing. What happened?
1 year, 5 months ago

Germany used to be the world's export powerhouse. Now, it's not growing. What happened?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The German economy is still …

Germany economy shrinks in first quarter, signaling one definition of recession
1 year, 7 months ago

Germany economy shrinks in first quarter, signaling one definition of recession

Associated Press  

BERLIN — The German economy shrank unexpectedly in the first three months of this year, marking the second quarter of contraction that is one definition of recession. Two consecutive quarters of contraction is a common definition of recession, though economists on the euro area business cycle dating committee use a broader set of data, including employment figures. Employment in the …

Europe's largest economy succumbs, Germany declares recession
1 year, 7 months ago

Europe's largest economy succumbs, Germany declares recession

Firstpost  

Germany slipped into recession after its economy shrank in the first three months of 2023, marking the second quarter of contraction, country’s statistical office said on Thursday. The gross domestic product of Europe’s largest economy declined by 0.3 per cent in the period from January to March. Initial estimates had indicated that the GDP would remain stagnant at zero growth, …

Germany's GDP shrinks by 0.3% in first quarter to put Europe's biggest economy into recession
1 year, 7 months ago

Germany's GDP shrinks by 0.3% in first quarter to put Europe's biggest economy into recession

The Hindu  

New figures show the German economy suffered an unexpected dip in the first quarter of this year, putting the country formally into recession. Data released May 25 by the Federal Statistical Office shows Germany's gross domestic product, or GDP, down by 0.3% in the period from January to March. The figures are a blow to the German Government, which last …

German factory orders up strongly, add to promising signals
1 year, 9 months ago

German factory orders up strongly, add to promising signals

Associated Press  

BERLIN — Factory orders in Germany surged in February, posting their third successive increase in another promising sign for Europe’s biggest economy, official figures showed Wednesday. Last week, a closely watched monthly survey of managers by the Ifo institute showed German business confidence rising for the fifth consecutive month to its highest since February 2022, the month Russia launched its …

German economy shrank 0.2% in Q4, worse than expected
1 year, 11 months ago

German economy shrank 0.2% in Q4, worse than expected

Associated Press  

BERLIN — Germany’s economy shrank by 0.2% in the fourth quarter compared with the previous three-month period, official figures showed Monday. In the fourth quarter, “surging inflation weighed on consumers’ real purchasing power and concerns abounded about a possible acute gas shortage during the winter,” Timo Klein, principal economist at S&P Global Market Intelligence, wrote in a research note. Germany’s …

German economy seen stagnating in Q4, grew 1.9% in 2022
2 years ago

German economy seen stagnating in Q4, grew 1.9% in 2022

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The German economy appears to …

German economy to shrink in 2023, government advisers expect
2 years, 2 months ago

German economy to shrink in 2023, government advisers expect

Associated Press  

BERLIN — The German government’s panel of independent economic advisers forecast Wednesday that Europe’s biggest economy will shrink by 0.2% next year. But a weak winter, with gross domestic product declining in the last months of the year and in the first three months of next year, is still widely expected. The advisers’ forecast of 1.7% growth this year and …

German government: Economy to shrink in 2023 as war bites
2 years, 3 months ago

German government: Economy to shrink in 2023 as war bites

Associated Press  

BERLIN — The German government on Wednesday slashed its growth forecast for this year and predicted that Europe’s biggest economy would shrink in 2023 as it deals with the fallout from Russia’s war in Ukraine, including Moscow cutting off natural gas supplies. Habeck said that despite the grim growth projections, employment would likely remain “robust.” Russian imports once accounted for …

Europe's largest economy Germany will fall into recession in 2023: OCED
2 years, 3 months ago

Europe's largest economy Germany will fall into recession in 2023: OCED

Firstpost  

Germany is facing soaring inflation, particularly in energy prices, after Russia cut gas supplies through the Nord Stream pipeline as tensions mount over the Ukraine war New Delhi: Europe’s largest economy Germany will fall into recession in 2023, the Organisation for Economic Co-operation and Development said on Monday. “Pessimism regarding the coming months has grown decidedly.” Energy prices spike as …

Omicron leaves Germany on brink of recession as growth dips
3 years ago

Omicron leaves Germany on brink of recession as growth dips

Associated Press  

FRANKFURT, Germany — The risk of recession is looming for Germany after Europe’s biggest economy shrank at the end of 2021 and as it faces a bumpy start to this year, with the rapid spread of COVID-19’s omicron variant deterring people from shopping and travel and supply bottlenecks holding back manufacturers. Forecasts are also shaky for the first three months …

German economy still smaller than pre-pandemic size after omicron reversal
3 years ago

German economy still smaller than pre-pandemic size after omicron reversal

The Telegraph  

Germany’s economy went into reverse at the end of 2021, as omicron combined with supply shortages left the industrial powerhouse further away from returning to its pre-Covid size. “No other eurozone country suffered as much as the German economy amid a series of supply chain frictions,” he said. “Industrial production has basically stagnated since spring last year, despite richly filled …

German exports down 9.3% last year, biggest fall since 2009
3 years, 11 months ago

German exports down 9.3% last year, biggest fall since 2009

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Germany's exports plunged by 9.3% …

Germany’s economy: Pandemic recession wasn’t as bad as 2009
4 years ago

Germany’s economy: Pandemic recession wasn’t as bad as 2009

CNN  

London CNN Business — Germany’s economy held up better in the pandemic than it did during the global financial crisis, despite a second wave of lockdowns in the fourth quarter and the reversal of more than a decade’s growth in employment and trade. “Germany’s outperformance reflects its comparatively light lockdown during the first wave of Covid-19, low share of tourism …

German experts see economy shrinking 5.1% this year
4 years, 2 months ago

German experts see economy shrinking 5.1% this year

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The German government's panel of …

Europe’s stagnant economy is vulnerable to a shock from China
4 years, 11 months ago

Europe’s stagnant economy is vulnerable to a shock from China

CNN  

London CNN Business — Recession fears are stalking Europe again after Germany’s economy flatlined at the end of 2019. Weakness in the world’s fourth largest economy reverberated across the eurozone, where growth slumped to a seven-year low of 0.1% in final quarter of last year. “The economy should be about to turn a corner, but the coronavirus now means that …

India expected to overtake Germany, become fourth-largest economy by 2026, says report by UK-based economics consultancy
5 years ago

India expected to overtake Germany, become fourth-largest economy by 2026, says report by UK-based economics consultancy

Firstpost  

The report further said India is also set to reach a gross domestic product of USD 5 trillion by 2026, 2 years later than the government’s target. New Delhi: India is expected to overtake Germany to become fourth-largest economy in 2026 and Japan to become third largest in 2034, according a recent report by the UK-based Centre for Economics and …

Global factory gloom: German growth forecasts slashed for this year and next
5 years, 3 months ago

Global factory gloom: German growth forecasts slashed for this year and next

CNN  

London CNN Business — Happy Wednesday. “Global trade remains the most significant issue, as demonstrated by the contraction in new export orders that began in July 2019,” said Timothy Fiore, chair of the ISM’s manufacturing business survey committee. See here: Germany’s leading economic research institutes on Wednesday slashed their forecasts for economic growth for this year and next, blaming in …

German industry plunges deeper into recession as export slump infects domestic economy
5 years, 4 months ago

German industry plunges deeper into recession as export slump infects domestic economy

The Telegraph  

Germany’s industrial powerhouse is braced for the manufacturing recession to deepen further as new orders slumped again over the summer, denying the embattled sector any relief from its year-long struggle. New orders dropped by 2.7pc from June to July, according to official data, with demand slumping 5.6pc compared with the same month a year ago. German GDP fell by 0.1pc …

German economy shrinks, casting shadow over European growth
5 years, 5 months ago

German economy shrinks, casting shadow over European growth

Associated Press  

FRANKFURT, Germany — Germany’s economy shrank by 0.1 percent in the second quarter as global trade conflicts and troubles in the auto industry held back the largest member of the 19-country euro currency union. The state statistics agency Destatis said Wednesday that falling exports held back output compared to the first quarter, while demand from consumers and government spending at …

German economy: GDP shrinks in the second quarter as trade slows
5 years, 5 months ago

German economy: GDP shrinks in the second quarter as trade slows

CNN  

London CNN Business — Germany’s economy shrank in the second quarter as global uncertainty and the trade war took a toll on its manufacturers. “Today’s GDP report definitely marks the end of a golden decade for the German economy,” said Carsten Brzeski, chief economist in Germany at the Dutch bank ING. It’s particularly damaging at a moment when Germany’s automakers …

Germany: The trade war is part of a ‘perfect storm’ hitting Europe’s biggest economy
5 years, 5 months ago

Germany: The trade war is part of a ‘perfect storm’ hitting Europe’s biggest economy

CNN  

London CNN Business — Fears that Germany could be dragged into recession by the trade war between the United States and China were stoked on Wednesday by data showing that production in Europe’s manufacturing powerhouse plunged in June. “We should prepare for contraction in the German economy.” Germany relies heavily on exporters that sell a disproportionate amount of goods to …

Germany may not be in recession, but US trade disputes aren’t exactly making things easier
5 years, 10 months ago

Germany may not be in recession, but US trade disputes aren’t exactly making things easier

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. You can argue that this is …

Is Germany’s golden decade coming to an end?
5 years, 11 months ago

Is Germany’s golden decade coming to an end?

The Economist  

F OR MOST of the past decade Germany has been a shining exception to Europe’s economic weakness. After the economy contracted by 0.2% in the third quarter of last year, industrial production declined by 1.9% month-on-month in November, much worse than the expected growth of 0.3%, prompting fears that the country was about to enter a technical recession. The federal …

Germany slumps to worst growth in five years in 2018, official figures shows
6 years ago

Germany slumps to worst growth in five years in 2018, official figures shows

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy German GDP slowed dramatically in …

The German economy just had its worst year since 2013
6 years ago

The German economy just had its worst year since 2013

CNN  

London CNN Business — Germany may have dodged a recession but its economic performance in 2018 was still the weakest in five years, adding to evidence that trade tensions and a sharp slowdown in China are hampering global growth. Holger Schmieding, chief economist at Berenberg, said the German economy has been hit by “a series of shocks.” Trade tensions, turmoil …

Recession fears are stalking Germany
6 years ago

Recession fears are stalking Germany

CNN  

London CNN Business — Europe’s largest economy may be in recession for the first time since the region’s debt crisis. Carsten Brzeski, ING’s chief economist in Germany, said the data showed that the risk of recession had “clearly increased.” Oxford Economics downgraded its growth forecast for the fourth quarter to 0% and said recession was now “a reasonably high risk.” …

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