Germany has turned the corner on the worst of an economic crisis sparked by the coronavirus pandemic and is now on the path to recovery, the central bank chief of Europe's biggest economy said Sunday.
The economic upheaval caused by the
fast-spreading coronavirus threatens to plunge Germany's crucial industrial
sector into "the longest recession since reunification", a powerful industry body said Thursday.
Germany's government again booked a double-digit billion-euro surplus in 2019, official data showed Monday, leaving unused "fiscal space" as neighbours and institutions urged Berlin to spend more.
Germany's unemployment rate held close to historic lows in December, official
data showed Friday, a relief after a second successive year squeaking by recession.
Germany on Thursday slashed its growth outlook for next year, saying it expects trade conflicts, Brexit and other sources of
uncertainty abroad to continue weighing on the economy.
Germany faced renewed pressure on Friday to boost public spending and help revive a sputtering European economy, a day after the European Central Bank warned it had reached the limit of its powers to avert recession.
German Finance Minister Olaf Scholz presented a 2020 budget that sticks to the country's longstanding no-new-debts "black zero" policy, defying speculation on financial markets that Berlin might borrow to fund investments.
The German economy could enter a recession in the third quarter, the Bundesbank warned Monday, as the debate on
government measures to support the economy swelled in Berlin.
Germany's economy contracted in the
second quarter, figures showed Wednesday, highlighting its vulnerability to trade tensions and fears of a no-deal Brexit, stoking a debate on higher government spending.
German industrial production strongly rebounded in June driven by all sectors after people took advantage of the May bank holidays to extend their time off, official data showed on Wednesday.
Germany, Europe's biggest economy, will avoid the recession that has engulfed many of its partners in the region and return to growth in the first quarter of 2013, the national Bundesbank said on Monday.
Germany has avoided recession despite the resurgent eurozone debt crisis, official data showed on Tuesday, confirming the resilience of Europe's top economy to the surrounding turmoil.
German Chancellor Angela Merkel reiterated on Wednesday that the eurozone needed economic growth as well as deficit-cutting measures. Germany continued to register slight growth, while the UK slipped into recession.
Germany’s economy is still in the danger zone, with banks stockpiling money in the European Central Bank (ECB) instead of lending it, Jürgen Fitschen, next in line to lead Deutsche Bank, warned on Thursday.
As European leaders struggle to stave off a looming recession this year, Germany – the continent’s biggest and healthiest economy – is probably already in one, according to economists surveyed by <i>Die Welt</i> newspaper.
Germany will escape recession this year despite the ongoing eurozone debt crisis and return to solid growth in 2013, one of the country's top institutes said Wednesday.
Europe's economy outpaced the United States and Japan in the second quarter, EU data showed Thursday, but analysts warned that the German-powered growth would likely lose steam in the second half.
Domestic consumption and business investment have helped Germany post record growth and raised the chances that Europe's economic engine will keep chugging along this year, economists said on Tuesday.
Two leading business associations recommended on Friday that Germany reduce holiday time for employees from six weeks to four or five, in order to bolster growth.
The German economy is showing massive improvement after the country's worst post-war recession last year, and with latest growth figures due on Friday, analysts are expecting rosy results.
Germany’s fast-recovering economy could grow by 2.5 percent this year, the respected IWH forecasters predicted Tuesday, helping cement the widespread confidence that the rebound is here to stay.
German retail sales fell by 0.9 percent in June from the previous month, according to provisional figures published Friday by the National Statistics Office (Destatis), following a sharp rise the previous month.
Volkswagen, Europe's biggest automaker, posted Thursday a second quarter net profit of €1.25 billion, well above forecasts and more than four times the previous year's figure.
