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☆ Europe’s biggest economy narrowly avoids recession
▼ + stars: | 2024-10-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +1 min

London CNN —Germany escaped a recession in the third quarter, official data showed Wednesday, offering some relief to Europe’s biggest economy as its fortunes falter. Destatis revised down GDP figures for the second quarter from -0.1% previously. Germany’s economy shrank last year for the first time since the onset of the Covid-19 pandemic. The outlook isn’t much brighter: the International Monetary Fund sees zero economic growth this year, marking the weakest performance among major economies. A sharp drop in profit at Volkswagen only intensified the bad news on economic growth.

Persons: London CNN —, Destatis Organizations: London CNN, Gross, Federal, Office, International Monetary Fund, Volkswagen Locations: London CNN — Germany

☆ Inflation-hit Germans are demanding a legal cap on the price of a doner kebab. They're not joking.
▼ + stars: | 2024-05-07 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +3 min

A German political party proposed a government cap on doner kebabs. Around €7 billion, or around $7.5 billion, worth of doner kebabs are sold every year in Germany, according to The Guardian and The Independent. The party plans to propose a government price cap of €4.90 (around $5.30) or €2.90 (around $3.10) for young people, The Guardian reported. If those decrease, then kebab prices also decrease," Gebel told BI. "The kebab price will remain high if the government does not change anything," she said.

Persons: Chancellor Scholz, —, Kathi, Gebel, Olaf Scholz, Virginia Mayo, Scholz, Putin … I'm Organizations: Guardian, Service, Independent, Left Party, AP, European Central Bank, Federal Statistical Office Locations: Germany, Brussels, Virginia

☆ Germany should legalize abortion up to 12 weeks, a government commission recommends
▼ + stars: | 2024-04-15 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +4 min

Berlin CNN —Germany should overturn its 150-year old ban on abortions and make terminations legal within the first 12 weeks of pregnancy, a government-appointed panel of experts said on Monday. The procedure is de-criminalized up to 12 weeks of pregnancy, but anyone seeking a termination must attend a compulsory counselling session followed by a mandatory three-day waiting period. After 12 weeks, abortions are only allowed in exceptional circumstances, such as if the pregnancy or birth poses a risk to the mother’s physical or mental health. “(The commission’s) recommendations provide a good basis for the open and fact-based conversation that is now necessary,” German Minister for Family Affairs Lisa Paus said in a statement on Monday. The proposals from Prime Minister Donald Tusk’s party would legalize abortion up to 12 weeks, a move more in line with some Western European countries.

Persons: Liane Woerner, “, Lisa Paus, Karl Lauterbach, ”, Donald Tusk’s, Andrzej Duda, Roe, Wade Organizations: Berlin CNN —, Reproductive, Social Democratic Party, SPD, Greens, Free Democrats, University of Constance, German Federal Statistical Office, Christian Democratic Union, Central Committee, Bishops ’ Conference, Family, German, Law, Justice Locations: Berlin CNN — Germany, Germany, France

☆ European markets set to open mixed as investors digest fresh economic data; German inflation falls
▼ + stars: | 2024-02-09 | by ( Karen Gilchrist | ) www.cnbc.com time to read: 1 min

European markets are set to open mixed Friday as investors digest the latest slew of corporate earnings and look ahead to fresh economic data. German inflation fell in January to 3.1%, new data from the the federal statistical office showed Friday. Regional markets closed slightly lower on Thursday as investors digested a slew of earnings from Unilever, Societe Generale, Maersk, Siemens and Adyen. In Asia-Pacific, Japan's Nikkei hit fresh 34-year highs on Friday, while most markets were either fully or partially closed for the Lunar New Year holiday. Stateside, U.S. futures were lower Friday morning after the S&P 500 crossed the historic 5,000 milestone for the first time during intraday trading.

Organizations: Unilever, Societe Generale, Maersk, Siemens, Adyen, Nikkei Locations: Italy, Asia

BERLIN (AP) — German beer sales dropped 4.5% last year, resuming a long-term downward trend, official figures showed Thursday. German-based breweries and distributors sold about 8.4 billion liters (2.2 billion gallons) of beer last year, the Federal Statistical Office said. That figure doesn't include non-alcoholic beer and beer imported from outside the European Union. In 2022, beer sales increased 2.7% thanks to a recovery in demand at home and in the EU following the end of COVID-19 restrictions. Sales inside Germany — more than four-fifths of the total — dropped 4.2% to 6.9 billion liters (1.8 billion gallons).

Organizations: BERLIN, Federal Statistical Office, European Union, EU Locations: EU, COVID, Germany

☆ ‘Sick man of Europe?’ Germany says it just needs a coffee
▼ + stars: | 2024-01-19 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Germany’s finance minister has shrugged off suggestions his country has once again become the “sick man” of Europe. Long the engine of growth in Europe, Germany’s economy shrank last year by 0.3%, likely the weakest performance among the region’s big countries. “I know what some of you are thinking: Germany probably is a sick man. Germany is not a sick man… Germany is a tired man after a short night,” Christian Lindner said at the annual World Economic Forum in Davos, Switzerland. The country became known as the “sick man of Europe” in the late 1990s as its economy faltered and unemployment soared.

Persons: It’s, ”, “, ” Christian Lindner, ” Lindner, ” Daniel Kral Organizations: London CNN —, Economic, Oxford Economics, Germany’s Federal, Office Locations: Europe, Germany, Davos, Switzerland, Germany’s, Ukraine, Moscow, Berlin, Russia, Red

☆ Germany's economy shrinks by 0.3% in 2023
▼ + stars: | 2024-01-15 | by ( ) www.cnbc.com time to read: +1 min

German Chancellor, Olaf Scholz arrives for the weekly federal government cabinet meeting on Oct. 11, 2023 in Berlin, Germany. Europe's largest economy contracted by 0.3% year-on-year in 2023, as high inflation and firm interest rates bit into growth, the Federal Statistical Office of Germany said Monday. "The overall economic development in Germany stalled in 2023 in the still crisis-ridden environment," said Ruth Brand, president of the federal statistics office, according to a Google translation. "Despite the recent declines, prices remained high at all levels of the economy. Added to this were unfavorable financing conditions due to rising interest rates and lower demand from home and abroad," Brand added.

Persons: Olaf Scholz, Ruth Brand, Brand Organizations: Federal, Office, Germany, Reuters Locations: Berlin, Germany, Europe's

FRANKFURT, Germany (AP) — Germany's economy shrank 0.3% last year as Europe's former powerhouse struggled with more expensive energy, higher interest rates, lack of skilled labor and a homegrown budget crisis. Europe's largest economy has been mired in stagnation since the last months of 2022 amid those multiple challenges. The International Monetary Fund expected Germany to be the worst-performing major developed economy last year, a major turnaround from its place as a model for how to expand when other nations were struggling. German's economy likely also shrank 0.3% in the fourth quarter after stagnating in the third quarter, the Federal Statistical Office said Monday in an initial rough estimate. Official figures for the last three months of 2023 are expected to be announced Jan. 30.

Persons: there's Organizations: Monetary Fund, Federal Statistical Office, Energy, European Central Bank Locations: FRANKFURT, Germany, Ukraine

☆ Germany, Europe’s biggest economy, shrank last year
▼ + stars: | 2024-01-15 | by ( Hanna Ziady | ) edition.cnn.com time to read: +1 min

Gross domestic product was 0.3% lower in 2023 than in the previous year, according to Germany’s Federal Statistical Office (Destatis). “Overall economic development faltered in Germany in 2023 in an environment that continues to be marked by multiple crises,” Destatis president Ruth Brand said in a statement. GDP in the fourth quarter also fell by 0.3% on the previous quarter, according to a prelininary estimate from the statistics office. Although inflation has eased, prices remain high throughout the economy and have put a damper on economic growth, Brand added. Output in the euro area shrank slightly in the third quarter of 2023.

Persons: ”, Ruth Brand, Brand Organizations: London CNN, Gross, Federal, Office Locations: Germany

☆ German housebuilding is collapsing — and could drag the economy down with it
▼ + stars: | 2023-11-15 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +4 min

Fast forward two years, and German housebuilding looks like it's collapsing, putting pressure on both his hard-to-reach goal, but also the overall economy of the country. Over 22% of companies surveyed reported the cancellation of residential construction projects in Germany in October, a new record high. Expectations for the residential construction industry fell to what the Ifo described as an "exceptional low." "Things continue to go from bad to worse in Germany's construction sector. But it's also the jobs market that could be impacted by troubles in the homebuilding sector, Brzeski noted.

Persons: Soeren, Germany's Olaf Scholz, —, Cyrus de la Rubia, Carsten Brzeski, Brzeski, Klaus Wohlrabe, Wohlrabe, it's Organizations: Getty, Ifo Institute for Economic Research, Hamburg Commercial Bank, German Federal, Office, ING, CNBC, European Central Bank, ECB, European Commission Locations: downtown Wittenberg, Germany, Hamburg

☆ German economy faces uphill climb as industrial output falls
▼ + stars: | 2023-07-07 | by ( ) www.reuters.com time to read: +1 min

BERLIN, July 7 (Reuters) - A swift economic recovery for Germany appeared less likely on Friday as data showed a surprise fall in industrial production. Output fell by 0.2% in May compared with the previous month, the federal statistical office said. The industrial production data was a reminder of the uphill climb in Europe's biggest economy if it is to shake off recession, after a surprise increase in May orders fuelled some optimism on Thursday. "We may just see stagnation in the second quarter, but much more likely a renewed decline in economic output," he added. The office offers a breakdown of the data on industrial production on its website.

Persons: Carsten Brzeski, Brzeski, Jens, Oliver Niklasch, Anna Mackenzie, Rene Wagner, Rachel More, Miranda Murray Organizations: Reuters, ING, Thomson Locations: BERLIN, Germany, Ukraine

☆ Green alliance crisis is more than just a US drama
▼ + stars: | 2023-06-19 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +4 min

Back in March the Net-Zero Insurance Alliance (NZIA) boasted 30 members, representing about 15% of global premium volume. Now the NZIA, a key financial forum for insurers to set decarbonisation targets and a part of the Glasgow Financial Alliance for Net Zero (GFANZ), has shrunk to just 13 companies. Even those who choose to stay in the NZIA risk losing business due to state politicians pursuing a “war on woke”. NZIA, part of the Glasgow Financial Alliance for Net Zero set up by U.N. climate envoy Mark Carney, requires members to commit to reducing their greenhouse gas emissions. In rapid succession Japanese insurers Sompo Holdings, MS&AD and Tokio Marine as well as Australia’s QBE Insurance quit the net-zero alliance in late May.

Persons: Beneva, Mark Carney, French reinsurer Scor, Lloyd’s, John Neal, George Hay, Oliver Taslic Organizations: Reuters, Global, United Nations, Zero Insurance, Glasgow Financial Alliance, Zero Banking Alliance, Alliance, European Union, Reuters Graphics Reuters, ”, Zurich Insurance, Munich Re, Hannover Re, Allianz, Axa, French, Sompo Holdings, Tokio Marine, QBE Insurance, Thomson Locations: United, United States, Germany, NZIA, Munich, Tokio, London

BERLIN, June 7 (Reuters) - German industrial output rose less than expected in April, darkening the outlook for the euro zone's largest economy following weak new orders data earlier this week. The statistics office revised up the industrial production figure for March to a 2.1% decrease from a provisional figure of a 3.4% fall. Even with this revision, German industrial production is 1.6% below its level a year earlier. Data on Tuesday showed industrial orders fell by 0.4% in the month of April. "Without any significant pick up in activity, the German economy's recession could continue in the second quarter," ING's global head of macro Carsten Brzeski said.

Persons: Andrew Kenningham, Kenningham, April's, Commerzbank's, Ralph Solveen, Solveen, Carsten Brzeski, Anastasiia Kozlova, Maria Martinez, Miranda Murray, Christina Fincher Organizations: Companies, Thomson Locations: BERLIN, Europe, China, United States

BERLIN, May 8 (Reuters) - German industrial production fell more than expected in March, partly due to a weak performance by the automotive sector, spurring again recession fears in Europe's largest economy. Production decreased by 3.4% on the previous month following a slightly revised increase of 2.1% in February, the federal statistical office said on Monday. "After a buoyant performance by industrial production at the beginning of the year, there was an unexpectedly sharp decline in March," the economics ministry said. In the first quarter, production was 2.5% higher than in the last quarter of 2022, according to the statistics office. GDP was unchanged quarter on quarter in adjusted terms in the first quarter, following a 0.5% contraction in the fourth quarter of 2022.

☆ Germany has a plan to tackle a rapidly ageing workforce: recruiting robots
▼ + stars: | 2023-05-01 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +6 min

But what does enhancing the workforce through robots and digitalization actually look like? There won't be major job losses as a result of digitalization, according to Ulrich Walwei, vice director of Germany's Institute for Employment Research. Ultimately, the goal of integrating robots into the workplace is to augment human capabilities, not replace them. "Our robots can free up human workers to focus on more complex and creative work, leading to more fulfilling and engaging jobs," Pehlivan told CNBC via email. "Ultimately, the goal of integrating robots into the workplace is to augment human capabilities, not replace them," he added.

☆ German industrial output rises more than expected in February
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +1 min

BERLIN, April 6 (Reuters) - German industrial production rose significantly more than expected in February due in part to vehicle manufacturing, increasing 2.0% on the previous month, the federal statistical office said on Thursday. "Despite the strong rebound, industrial production is still slightly below its pre-pandemic level." Industrial output is expected to increase further in the coming months. Pantheon Macroeconomics forecasts that industrial production will post a 3.0% quarter-on-quarter expansion in the first quarter, comfortably reversing the 0.5% decline in the fourth quarter. Year-on-year, industrial production rose 0.6% in February.

☆ German producer prices rise more than expected in February
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +1 min

BERLIN, March 20 (Reuters) - German producer prices rose more than expected in February, though the rate of increase eased for the fifth month in a row, signalling that inflation in Europe's largest economy could be starting to wane, according to data released on Monday. Producer prices of industrial products were up 15.8% on the same month last year, the Federal Statistical Office reported, compared with analysts' expectations for the rate of increase to ease to 14.5%. Compared to January, prices fell 0.3%. Apart from energy costs, which were up 27.6% year-on-year, producer prices also rose on the back of price increases for consumer goods, intermediate goods, consumer durables and capital goods, the office said. Reporting by Friederike Heine, Editing by Paul CarrelOur Standards: The Thomson Reuters Trust Principles.

☆ German industrial output rises more than expected in January
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

BERLIN, March 8 (Reuters) - German industrial production rose significantly more than expected in January, increasing by 3.5% on the previous month, the federal statistical office said on Wednesday. The positive development "was driven in particular by strong growth in the manufacturing of electronic equipment ... and chemicals," the statistics office said. It added that motor vehicle and motor vehicle parts manufacturing, as well as pharmaceutical products manufacturing, had shown a strong negative trend. Also on Wednesday, the statistical office said that German retail sales had fallen unexpectedly in January by 0.3% in real terms compared to the previous month. Reporting by Friederike Heine Editing by Paul Carrel and Matthias WilliamsOur Standards: The Thomson Reuters Trust Principles.

☆ Ukrainian refugees could help Germany's labor market, but not for long: They're 'ready to go home'
▼ + stars: | 2023-02-24 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +3 min

Germany's labor market is under pressure, but the recent influx of Ukrainian refugees is "no silver bullet" for the workforce issues. Germany's labor market is under severe pressure, and the recent influx of Ukrainian refugees is unlikely to solve the country's workforce issues in the long term. "If I compare to the previous asylum seekers, Ukrainians are clearly better educated and have integrated much faster into the German labor market," he added, noting that Germany is an attractive country for people looking to join the labor market. But Ukrainian refugees can't be expected to fill the gaps in the German labor market. Language barriersAround 60% of Ukrainian refugees in Germany perceived language barriers as the biggest challenge in their new environment, according to an OECD survey.

☆ Some 1.1 million people came to Germany from Ukraine in 2022
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Feb 16 (Reuters) - Some 1.1 million people arrived in Germany from Ukraine in 2022, exceeding the influx of migrants from the Middle East around 2015, Germany's federal statistical office said on Thursday. Two thirds of the immigrants from Ukraine arrived in the first three months after Russia's invasion of Ukraine, between March and May of last year, it said. The data comes days before the one-year anniversary of the invasion on Feb. 24, which led to millions of Ukrainians being displaced. Excluding those who returned to Ukraine, immigration from Ukraine to Germany was 962,000 in 2022, more than the total of 834,000 that came from Syria, Afghanistan and Iraq together between 2014 and 2016, it said. That made Ukrainian citizens the second largest foreign population in Germany after Turkish nationals by October 2022, it said.

☆ German producer prices unexpectedly fall in October
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Nov 21 (Reuters) - German producer prices fell unexpectedly on the month in October, due primarily to a dip in prices for electricity and distributed natural gas, according to data released on Monday. Producer prices of industrial products fell 4.2% on the month, theFederal Statistical Office reported, compared with economists' expectations for a rise of 0.9%. October marks the first month-on-month decrease in producer prices, considered a leading indicator for consumer prices, since May 2020. Electricity prices were down 16.9% across all customer groups compared with September 2022, while prices of natural gas were down 9.0%, according to the office. Germany's consumer prices, harmonised to compare with other European countries, were 11.6% higher year-on-year in October.

☆ German harmonised inflation +11.6% y/y in October
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Nov 10 (Reuters) - Germany's consumer prices, harmonised to compare with other European countries, were 11.6% higher year-on-year in October, the Federal Statistical Office said on Friday, confirming preliminary figures. On a non-harmonised basis, consumer price inflation was also confirmed at 10.4%. The office offers more detailed economic data on its website. Writing by Miranda Murray, editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

☆ Euro, sterling bounce, dollar drops as investors cash in
▼ + stars: | 2022-11-07 | by ( Hannah Lang | ) www.reuters.com time to read: +3 min

[1/3] Euro, Hong Kong dollar, U.S. dollar, Japanese yen, pound and Chinese 100 yuan banknotes are seen in this picture illustration, January 21, 2016. REUTERS/Jason Lee/IllustrationWASHINGTON, Nov 7 (Reuters) - Euro and sterling rose against the safe-haven dollar on Monday, supported by a risk-on sentiment across markets as investors digested positive euro zone data and looked to cash in on the strength of the U.S. currency. The euro was up 0.69% to $1.0029, its highest level since Oct. 27, while sterling was last trading at $1.1534, up 1.40% on the day. Investors were also cheered by a readout on Monday showing that German industrial production grew in September, beating analyst expectations. Against a basket of currencies, the dollar index fell 0.91% to 110.070.

☆ German exports post unexpected dip in September
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Nov 2 (Reuters) - German exports posted an unexpected dip in September, decreasing by 0.5% on the month, while imports fell more than expected, down 2.3%, Federal Statistical Office data showed on Wednesday. A Reuters poll had predicted a month-on-month rise in exports of 0.1% while imports were expected to fall 0.4%. Germany had a seasonally adjusted trade surplus of 3.7 billion euros ($3.66 billion) in September, the office reported, surging past a forecast surplus of 700 million euros. Most imports came from China, Germany's single biggest trade partner, which saw a 5.4% increase on the month in September, while exports to China saw a 2% dip, according to the office. ($1 = 1.0118 euros)Reporting by Miranda Murray, editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

☆ German producer prices rise more than expected in September
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: 1 min

BERLIN, Oct 20 (Reuters) - German producer prices rose more than expected in September, maintaining the previous month's record pace as energy prices soared, according to data released on Thursday. Producer prices of industrial products rose 45.8% on the same month last year, the Federal Statistical Office reported, compared with economists' expectations for the rate of increase to ease to 44.7%. Compared to August 2022, prices rose 2.3%, which was also above consensus for 1.3%. Register now for FREE unlimited access to Reuters.com RegisterReporting by Maria Sheahan; Editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.

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