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☆ German exports rise significantly more than expected in February
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +2 min

BERLIN, April 4 (Reuters) - German exports rose significantly more than expected in February due to strong demand from the United States and China, posting their biggest increase in 10 months, data showed on Tuesday. Exports increased by 4.0% on the previous month, the federal statistics office said. A Reuters poll had predicted a month-on-month rise in exports of 1.6%. In February, exports to European Union countries rose 2.0% on the previous month, while exports to the U.S. and China increased by 9.4% and 10.2% respectively compared with January. Despite the increase, export demand still lacks momentum, Klaus Wohlrabe, head of surveys at Ifo, said.

☆ German inflation eases less than expected in March
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

German consumer prices, harmonised to compare with other European Union countries, rose by a more-than-anticipated 7.8% on the year in March, preliminary data from the federal statistics office showed on Thursday. Analysts had expected harmonised data to increase by 0.8% on the previous month and grow by 7.5% on an annual basis. According to non-harmonised standards, German consumer prices rose 7.4% on the year in March and 0.8% on the month. This follows an inflation rate of 8.7% in February and January. The decline in the inflation rate was entirely driven by a slowdown in energy prices, which rose only 3.5% compared with March 2022, when energy prices soared following Russia's invasion of Ukraine.

Despite relief measures, energy prices in February were 19.1% higher on the year, while food prices were 21.8% higher, it said. The first one was driven by energy prices and the second one by material inputs, which are not ebbing. While energy prices were keeping headline inflation high, wage growth will show its impact in core inflation, which will remain stubbornly high, Brzeski said. "Hence, a stepdown to a 25bp pace of hikes could be delayed, which would also push the terminal rate higher." "The interest rate step announced for March will not be the last," Nagel said in a speech.

☆ German inflation remains high at start of year
▼ + stars: | 2023-02-22 | by ( Maria Martinez | ) www.reuters.com time to read: +2 min

Compared with December, prices increased by 0.5%, it added, confirming preliminary data on both a monthly and annual basis. "Following a slowdown at the end of last year, the inflation rate thus remains at a high level," said Ruth Brand, president of the German statistics office. Excluding energy prices, the inflation rate stood at 7.2% in January. "The rate of food price increase thus was more than twice the overall inflation rate again," the statistics office said. Prices of goods were up 12.7% on year in January and services prices increased 4.5% on year.

☆ German EU-harmonised consumer prices up 9.2% y/y in January
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Feb 22 (Reuters) - German consumer prices, harmonised to compare with other European Union countries, rose by 9.2% on the year in January, data from the federal statistics office showed on Wednesday. Compared with December, prices increased by 0.5%, it added, confirming preliminary data on both a monthly and annual basis. According to non-harmonised standards, German consumer prices rose 8.7% on the year in January and 1.0% on the month. "Following a slowdown at the end of last year, the inflation rate thus remains at a high level," said Ruth Brand, president of the German statistics office. Energy product prices were 23.1% higher year-on-year despite government relief measures, while food prices increased 20.3% on year.

☆ German exports to China decline in January despite lifting of lockdown
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +1 min

Exports to China fell by 7.1% in January compared with the same month last year, to 7.4 billion euros ($7.90 billion). By comparison, exports to the United States grew by 20.8% to 12 billion euros, with the world's largest economy retaining its place as the most important customer for goods made in Germany. While goods worth around 298 billion euros were traded between the two countries last year, exports of German goods to China increased by only 3.1%, to around 107 billion euros. Germany, on the other hand, imported goods worth 191 billion euros from China, a third more than in 2021. Overall, Germany had a trade deficit with China of around 84 billion euros in 2022, a situation that German Finance Minister Christian Lindner called a "dangerous development".

☆ German EU-harmonised January consumer prices rise 9.2% y/y
▼ + stars: | 2023-02-09 | by ( Maria Martinez | ) www.reuters.com time to read: +2 min

Summary Harmonised German consumer prices in Jan rise 9.2% y/yDownward trend in inflation expected to continue - CommerzbankCore inflation forecast to remain high, economists sayBERLIN, Feb 9 (Reuters) - German consumer prices, harmonised to compare with other European Union countries, rose by a less-than-anticipated 9.2% on the year in January, preliminary data from the federal statistics office showed on Thursday. According to non-harmonised standards, German consumer prices rose 8.7% on year in January and 1.0% on the month. "Because core inflation will remain high in 2023, a fundamental easing of inflation is not in sight," said Alexander Krueger, chief economist at Hauck Aufhaeuser Lampe Privatbank. The final results for January and all results recalculated from January 2020 onwards using the new 2020 base year will be published by the statistics office on Feb. 22. The statistics office offers a breakdown for January's figures on its website.

☆ German industrial output falls more than expected in December
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

Summary Industrial production fell 3.1% on month, 0.7% decline expectedProduction in energy-intensive sectors fell 6.1%Economic slowdown in winter expected to be mild - ministryBERLIN, Feb 7 (Reuters) - German industrial production fell more than expected in December, driven by a plunge in output from energy-intensive sectors, the federal statistics office said on Tuesday. The drop was more severe in energy-intensive industrial sectors, where production decreased by 6.1% in December compared with November. "MISERABLE END TO 2022"For 2022 as a whole, German industrial production was 0.6% lower in calendar-adjusted terms than in 2021 and down 5.0% from the pre-pandemic year of 2019. According to Pantheon's estimates, German industrial production fell by 0.7% in the fourth quarter. While industrial production fell in December, German industrial orders rose by 3.2%, beating forecasts and posting the biggest increase in more than a year thanks to strong domestic and eurozone demand, data showed on Monday.

☆ German retail sales post shock fall in December
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 31 (Reuters) - German retail sales unexpectedly fell in December, as a Christmas shopping period weighed down by high inflation and the energy crisis revived fears of a more marked slowdown in Europe's largest economy this winter, data showed on Tuesday. Retail sales decreased by 5.3% in December compared with the previous month, the federal statistics office said. Retail sales also fell year-on-year in December by 6.4% in real terms, the office said"Just before Christmas, retailers in German city centres missed the big rush," said VP Bank chief economist Thomas Gitzel. The federal statistics office publishes more detailson retail sales on its website. Reporting by Miranda Murray and Friederike Heine, editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

☆ German economy unexpectedly shrinks in Q4
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 30 (Reuters) - The German economy unexpectedly fell in the fourth quarter, data showed on Monday, a sign that Europe's largest economy may be entering a much-predicted recession as an effect of the Ukraine war. Gross domestic product decreased 0.2% quarter on quarter in adjusted terms, the federal statistics office said. A Reuters poll of analysts had forecast the economy would stagnate. In the previous quarter, the German economy grew slightly by an upwardly revised 0.5% quarter on quarter. The German government last week revised up its economic forecast for 2023 and now foresees GDP growing by 0.2%, up from an autumn forecast of a 0.4% decline.

☆ German harmonized inflation eases to 9.6% y/y in December
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Jan 16 (Reuters) - German inflation eased further in the final month of 2022, with consumer prices rising by 9.6% year on year in December in harmonised terms, the federal statistics office said on Tuesday, confirming preliminary data. This compared with an annual harmonised inflation rate of 11.3% in November and 11.6% in October. For the whole of 2022, harmonised inflation came in at 8.7%, said the office, which publishes more detailed data on its website. Writing by Rachel More; Editing by Maria SheahanOur Standards: The Thomson Reuters Trust Principles.

☆ German wholesale prices rise in December but at slower pace
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 16 (Reuters) - Germany's wholesale price index rose in December compared with the same month last year although at a slower pace than in previous months, according to data released on Monday. Wholesale prices rose by 12.8% on the year, compared with a November reading of 14.9%, the federal statistics office reported. Wholesale price growth peaked in April, with a 23.8% year-on-year increase. High wholesale prices are driven mainly by increased prices for raw materials and intermediate products. In December, the prices of mineral oil products rose 22.8% compared with December 2021, having the largest impact in the wholesale price index, Destatis said.

☆ As China reopens and data surprises, economists are starting to get less gloomy
▼ + stars: | 2023-01-16 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

The European Central Bank is expected to continue raising rates aggressively in the short-term as the euro zone economy proves more resilient than anticipated. Haussmann Visuals | Moment | Getty ImagesAfter China's reopening and a deluge of positive data surprises in recent weeks, economists are upgrading their previously gloomy outlooks for the global economy. Berenberg also upgraded its euro zone forecast in light of recent news flow, particularly falling gas prices, a consumer confidence recovery and a modest improvement in business expectations. watch now"As Germany is more exposed to gas risks than the euro zone as a whole, it suggests that the euro zone likely did not fare (much) worse than Germany late last year and may thus have avoided a significant contraction in Q4 GDP," Schmieding said. Berenberg therefore raised its calls for the annual average change to real GDP in 2023 from a 0.2% shrinkage to 0.3% growth.

☆ Just how bad was the war in Ukraine for Europe’s biggest economy last year?
▼ + stars: | 2023-01-13 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

London CNN —Germany’s economy grew slightly last year despite battling an energy crisis sparked by Russia’s war in Ukraine. The bank predicts the German economy will stagnate this year, rather than decline, as it had previously forecast. Tobias Schwarz/AFP/Getty ImagesEither way, it’s welcome news for Europe’s biggest economy. “The German economy has been more resilient than initially feared,” Jan-Christopher Scherer, a research associate at DIW Berlin, told CNN. About 40% of German companies expect business to decline in 2023, and another 35% think it will stagnate, according to a November survey of 2,500 firms conducted by the German Economic Institute.

☆ German economy likely stagnated in Q4 - stats office
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 13 (Reuters) - German economic output likely stagnated in the final quarter of last year and grew by 1.9% over the full-year 2022, the Federal Statistics Office said on Friday, suggesting Europe's largest economy may just escape a recession over the winter. The initial fourth quarter readout suggests Germany may just avoid a recession -- defined as two successive quarters of contraction. German inflation eased for a second month in a row in December due to falling energy prices and the government's one-off payment of household energy bills, with EU-harmonized consumer prices rising by 9.6% on the year. Germany's state deficit ratio registered 2.6% of GDP in 2022, the Statistics Office added. Reporting by Miranda Murray and Maria Martinez Writing by Paul Carrel, editing by Kirsti KnolleOur Standards: The Thomson Reuters Trust Principles.

☆ German industrial orders fall more than expected in November
▼ + stars: | 2023-01-06 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 6 (Reuters) - German industrial orders saw their sharpest drop in more than a year in November on falling foreign demand, decreasing by 5.3% on the month on a seasonally and calendar adjusted basis, the federal statistics office said on Friday. A Reuters poll of analysts had pointed to a 0.5% fall, after a downwardly revised rise of 0.6% in October. Orders from eurozone countries slumped by 10.3% on the month, while those from outside the eurozone fell by 6.8%. "This shows how strongly the high energy prices are weighing on the eurozone," said VP Bank chief economist Thomas Gitzel. The statistics office publishes a statement with more economic data.

☆ German exports unexpectedly fall in November
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Jan 5 (Reuters) - German exports unexpectedly fell in November as high inflation and market uncertainty continue to weigh on Europe's largest economy despite fading supply chain problems. Exports fell by 0.3% on the month, data from the federal statistics office showed on Thursday. November's drop comes after October's figures were revised up, to growth of 0.8% from an initially reported 0.6% fall. Shipments to Germany's top export partner, the United States, were down 1.5% on the month in November, while exports to European Union member states fell by 0.4%. "The export sector supports the prospect of a mild recession," he added.

☆ German inflation slows in December on one-off energy payment
▼ + stars: | 2023-01-03 | by ( Miranda Murray | ) www.reuters.com time to read: +3 min

A one-off payment for household energy bills in December, part of government efforts to shield consumers, had a downward effect on prices, according to the statistics office. Energy prices eased somewhat in December but were still up 24.4% compared with the same period last year, while food prices had increased by 20.7%, according to the office. Germany's full-year harmonized inflation rate jumped to 8.7% in 2022 from 3.2% a year earlier, said the statistics office. "Core inflation remains the number one inflation scourge for the time being," he added, referring to a measure that excludes volatile food and energy costs. Commerzbank chief economist Joerg Kraemer also warned that core inflation had risen further and said the European Central Bank's "hesitant approach" means high inflation will stick around, despite energy relief measures.

☆ German wholesale price index eases in November
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Dec 15 (Reuters) - Germany's wholesale price index eased in November compared to the previous month, as signs mounted that inflation could peak in Europe's largest economy, according to data released on Thursday. Wholesale prices rose by 14.9% on the year, compared to an October reading of 17.4%, the federal statistics office reported. The office offers more detailed economic data on its website. Reporting by Rachel More Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

☆ German exports fall as demand cools in Europe, U.S.
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +2 min

SummarySummary Companies Exports down 0.6% m/m, twice as much as forecastImports post strongest m/m fall since JanuaryBERLIN, Dec 2 (Reuters) - German exports fell more than forecast in October, official data showed on Friday, as high inflation and supply chain snags hit demand in key trading partners, further raising the spectre of recession for Europe's largest economy. Exports declined by 0.6% on the month, twice as much as analysts predicted in a Reuters poll, the data from the Federal Statistics Office showed. Germany's top export partner, the United States, saw the sharpest fall in German exports at 3.9%, while exports to other European Union member states were down 2.4%. The German chambers of commerce and industry (DIHK) said last month Germany's exports were likely to fall 2% next year due to a sluggish global economy, with nearly half of German companies that sell abroad expecting an economic downturn. Also last month, German industrial group Thyssenkrupp (TKAG.DE) warned its sales and profit would "nosedive" next year as high inflation and energy costs are compounded by expected recession in Europe.

☆ German exports fall more than expected as demand cools in Europe, U.S.
▼ + stars: | 2022-12-02 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

"The German export engine is noticeably juddering," said German chambers of commerce and industry (DIHK) trade chief Volker Trier. "High inflation rates and a tight monetary policy in important sales markets are dampening international demand." DIHK said last month Germany's exports were likely to fall 2% next year due to a sluggish global economy, with nearly half of German companies that sell abroad expecting an economic downturn. Also last month, German industrial group Thyssenkrupp (TKAG.DE) warned its sales and profit would "nosedive" next year as high inflation and energy costs are compounded by an expected recession in Europe. A survey published on Thursday showed Germany's manufacturing sector reported continued weaker demand in November but the downturn slowed as signs of fewer material shortages fuelled hopes that cost pressures could also ease.

☆ German economy beats expectations with 0.4% growth in Q3
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Nov 25 (Reuters) - The German economy grew slightly more in the third quarter than preliminary figures suggested, bolstered by consumer spending, data showed on Friday. Europe's largest economy grew by 0.4% quarter on quarter and 1.3% on the year, adjusted for price and calendar effects, the federal statistics office said. Analysts polled by Reuters had expected the economy to grow by 0.3% in the third quarter on quarter and 1.2% on the year. In the previous quarter, the German economy grew slightly, by 0.1% quarter on quarter. In its latest forecast, the government predicted the economy would grow by 1.4% this year and slump by 0.4% next year.

☆ German industrial orders drop in Sept on foreign demand slump
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: 1 min

[1/2] A worker at German manufacturer of silos and liquid tankers, Feldbinder Special Vehicles, moves rolls of aluminium at the company's plant in Winsen, Germany, July 10, 2018. REUTERS/Fabian BimmerBERLIN, Nov 4 (Reuters) - German industrial orders fell more than expected in September, weighed down by a sharp fall in foreign demand, data showed on Friday. New orders fell by 4.0% on the month on a seasonally and calendar adjusted basis, the Federal Statistics Office said. While domestic orders increased by 0.5%, foreign orders decreased by 7.0%. A Reuters poll of analysts had pointed to a fall of 0.5% in September.

☆ German economy posts unexpected Q3 growth
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Oct 28 (Reuters) - The German economy grew unexpectedly in the third quarter, data showed on Friday, as Europe's largest economy staved off the threat of recession for now despite high inflation and concerns over energy supply. Gross domestic product increased by 0.3% compared to the previous quarter in seasonally adjusted terms, the federal statistics office. "The German economy ... continued to hold its own despite difficult global economic conditions with the ongoing COVID pandemic, disrupted supply chains, rising prices and the war in Ukraine," the office said in a statement. In the previous quarter, the German economy grew slightly by 0.1% quarter on quarter. Year on year, GDP rose by 1.2% in the third quarter in seasonally adjusted terms, beating analysts' forecast of 0.8% growth.

☆ German inflation at highest level in over 25 years
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +2 min

Full shelves with groceries are pictured in a supermarket during the spread of the coronavirus disease (COVID-19) in Berlin, Germany, March 17, 2020. REUTERS/Fabrizio BenschSummary EU-harmonized inflation at 10.9%Energy costs up 43.9% year-on-yearAnalyst: ECB must act quickly, vigorouslyBERLIN, Sept 29 (Reuters) - German inflation was at its highest in more than a quarter of a century in September, driven by high energy prices, data showed, as analysts warned that the energy crisis has yet to make itself fully felt. Consumer prices, harmonised to make them comparable with inflation data from other European Union countries (HICP), increased by 10.9% on the year, the federal statistics office said. That was the highest reading since comparable data going back to 1996. Dwindling gas supplies from Russia have pushed energy prices, and correspondingly inflation, to highs not seen in decades, with the massive loss in consumer purchasing power adding to the likelihood that a recession is on the way.

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