Germany Economic Outlook
bet360备用网址March 3, 2020A detailed reading of national accounts data confirmed that the economy flatlined in the final quarter of last year, ensuring growth fell to a six-year low in 2019. Private consumption stagnated in the quarter despite a still-tight labor market and robust wage growth, while the external sector weighed on the economy as exports fell and imports rose robustly. Turning to this year, the narrative of a two-speed economy is likely to continue. Business conditions in the services sector continued to improve robustly through February; the manufacturing sector, however, remained stuck in contraction, suggesting industrial production is likely to have continued to fall in the first two months of the year. Additionally, business confidence remained in pessimistic territory in the same period as views on the outlook and current situation remain depressed. More positively, consumer sentiment remains elevated in Q1.
Germany Economic GrowthEconomic growth should remain tepid this year, despite a marginal acceleration. Robust domestic demand is seen spurring the economy amid a tight labor market, low inflation and cheap credit. However, the balance of risk remains tilted to the downside, owing to the U.S.-China trade spat, Brexit, the coronavirus outbreak and possible intensification of EU-U.S. trade tensions. FocusEconomics Consensus Forecast panelists project the economy to expand 0.7% in 2020, which is down 0.1 percentage points from last month’s projection, and 1.2% in 2021.
Germany Economy Data
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Germany Economic News
March 13, 2020
Harmonized consumer prices rose 0.6% month-on-month in Germany in February, swinging from the 0.8% drop in January.
March 9, 2020
The German industrial sector started the new year on stronger footing, with output growing 3.0% month-on-month in January, an over two-year high and contrasting the revised 2.2% contraction recorded in December (previously reported: -3.5% month-on-month).
March 9, 2020
bet360备用网址The external sector remained on weak footing at the start of the new year as exports were flat month-on-month on a seasonally- and calendar-adjusted basis in January, down from December’s revised 0.2% expansion (previously reported: +0.1% month-on-month).
February 25, 2020
A detailed breakdown of fourth-quarter national accounts data confirmed that the German economy flatlined over the prior quarter, contrasting the 0.2% expansion in the third quarter, on the back of notably weaker domestic demand and a drag from the external sector.
February 24, 2020
bet360备用网址Business confidence rose marginally in February but remained mired in pessimistic territory, with the ifo Business Climate Index increasing to 96.1 in the month from a revised 96.0 in January (previously reported: 95.9).