Indicator IFO for business climate in Germany fell to 90.7 points in November, as expected, after registering 92.7 in October. This is the worst result seen by the indicator since July. The Current Valuation IFO fell three tenths, standing at 90 points from the previous 90.3, although improving the 87.2 estimated. The IFO index of […]
Tag: Germany
The eurozone, doomed to a relapse in the fourth quarter and a slower recovery in 2021, according to PMI
The activity of companies in the euro zone has deteriorated significantly in November, with particular intensity in the services sector, as a consequence of the impact of the new wave of contagions and restrictions applied to stop the pandemic, which increases the risk that the euro bloc will register a new contraction in GDP in […]
Third-quarter GDP rises 8.5%, improving expectations
The Germany’s Gross Domestic Product rose 8.5% in the third quarter of the year, exceeding the 8.2% expected. This is the first rise recorded by the indicator since the third quarter of 2019. In the second quarter of 2020, the GDP fell by 9.7%. Annualized GDP fell 4%, improving on the expected 4.3% decline. This […]
Preliminary manufacturing PMI falls to 57.9 points in November from 56.5 expected
The German manufacturing PMI reaches 57.9 in November compared to the expected 56.5. Germany’s services PMI falls to 46.2 in November from 46.3 forecast. According to the preliminary IHS / Markit manufacturing activity report, released Monday, the preliminary figure for the German manufacturing PMI fell to 57.9 points in November. The figure is even better […]
Brussels gives the go-ahead to the Budgets of Spain although it sees its fiscal stability at risk
Okay, but with caveats. The European Commission has supported this Wednesday the Spanish budget draft for 2021, sent a month ago, but expresses its concern for “long-term fiscal sustainability”, the high level of public debt and the fact that “the challenges for the real economy and the financial sector have increased”. All community partners, without […]
Spahn says they have stopped the exponential growth of infections
Following the latest coronavirus-related restrictions, Germany’s Health Minister Jens Spahn has said that have stopped the exponential growth of infections, but has also pointed out that they are not yet where they should be, as reported by Reuters. Additional comments: “Regardless of how we respond to this pandemic, there will be costs, the question is […]
We do everything possible to keep retail stores open – Altmaier
German Economy Minister Peter Altmaier said Wednesday that are doing their best to ensure that retailers can stay open, as reported by Reuters. Meanwhile, the International Monetary Fund (IMF) in its latest report noted that Germany’s economic growth prospects have weakened due to the second wave of coronavirus infections. The international organization foresees that the […]
Merkel says coronavirus cases are not falling as fast as they hoped
German Chancellor Angela Merkel said Tuesday that “coronavirus cases are not falling as fast as we expected“, and has added that”the economy will recover if we keep virus numbers low“. He has also added that “virus data is too high, contacts need to be reduced“. Earlier in the day, Merkel’s chief of staff, Helge Braun, […]
Bundesbank says economy likely to stagnate or slow in fourth quarter
Germany’s economy is likely to stagnate or contract in the fourth quarter of the year due to coronavirus-related tightening measuresthe Bundesbank said in its monthly report on Monday, Reuters reports. “Overall economic performance could stagnate or even decline after very strong growth in the summer,” the Bundesbank said. Market reaction This headline does not appear […]
Germany to decide next week on new December restrictions – Bloomberg
According to reports Germany is evaluating plans to decide on possible December restrictions next week, Bloomberg reports, citing a preliminary document. Outstanding conclusions_ “Germany plans more limitations on public meetings“. “The executive could also do mandatory use of masks in all schools“. Market reaction EUR / USD was down from daily highs at 1.1868 possibly […]
