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Search resuls for: "” Franziska Palmas"


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London CNN —Industrial production in Europe’s biggest economy fell 1.5% in June compared with May, driven by a 3.5% drop in Germany’s vast automotive sector. The decline in German industrial output, much steeper than forecast by economists, raises the risk that the manufacturing heavyweight will contract again later this year, potentially falling back into recession. The construction sector, where output shrank by 2.8%, also had a negative impact on overall industrial production, the country’s statistics office said Monday. “German industry remains in rough waters,” Salomon Fiedler, economist at Berenberg, said in a note Monday, noting last year’s energy price shock and weakness in US and Chinese demand, among other factors. Berenberg expects Germany to fall back into “a mild recession” in the second half of this year, Fiedler added.
Persons: , ” Franziska Palmas, Jörg Krämer, Hildegard Müller, ” Salomon Fiedler, Fiedler, — Mark Thompson, Anna Cooban Organizations: London CNN —, Capital Economics, Auto, German Automotive Industry Association, Volkswagen Locations: Germany, Europe, China, Russia, Ukraine,
London CNN —Inflation in Europe has fallen to its slowest pace since Russia invaded Ukraine, bolstering the case for the region’s central bank to bring interest rate hikes to an end soon. That’s the lowest rate of inflation since February 2022, when Moscow launched a full-scale invasion of its neighbor, sending global energy prices soaring. The pace of food price rises eased for the second month running in May, while energy prices actually fell. Inflation has fallen sharply in Germany, France, Italy and Spain, national data published Wednesday showed. Separate data published Tuesday showed lending by banks in the euro area stagnated further in April, with loans to households barely growing at all.
Persons: Price, Christine Lagarde, ” Lagarde, ” Franziska Palmas, , Bert Colijn Organizations: London CNN, Russia, European Central Bank, ECB, US Federal Reserve, Bank of, Capital Economics, ING Locations: Europe, Ukraine, Moscow, Germany, France, Italy, Spain, Bank of England, Palmas
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