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☆ German business sentiment unexpectedly rises in March
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +1 min

BERLIN, March 27 (Reuters) - German business morale unexpectedly rose in March, adding to signs that Europe's largest economy is stabilizing despite recent turmoil in the banking sector, a survey showed on Monday. The Ifo institute said its business climate index jumped to 93.3 from a reading of 91.1 in February. The increase in business morale for the fifth month in a row was driven primarily by business expectations, Ifo said. The expectations index rose to 91.2 in March from a revised 88.4 the month before, its highest level in at least a year. Reporting by Miranda Murray, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

☆ European stocks rebound as banking jitters ease
▼ + stars: | 2023-03-27 | by ( Sruthi Shankar | ) www.reuters.com time to read: +3 min

European banks (.SX7P) rose 0.9% after shedding 3.8% on Friday, when Deutsche Bank (DBKGn.DE) sparked a rout in the sector. "Many investors still don't want to touch the banking sector for fears there is more distress to come," said Russ Mould, investment director at AJ Bell. "Yet for every bleak situation, there is always someone who sees an opportunity to make money, hence why we're seeing a rise in the share price of many European banks today." European stocks are looking to end the first quarter of the year with gains, buoyed by signs of economic resilience and hopes that central banks are near the end of their tightening cycles. However, European banks are set to end the quarter nearly flat amid the banking sector turmoil.

☆ ECB confronts a cold reality: companies are cashing in on inflation
▼ + stars: | 2023-03-02 | by ( Francesco Canepa | ) www.reuters.com time to read: +9 min

"It's clear that profit expansion has played a larger role in the European inflation story in the last six months or so," said Paul Donovan, chief economist at UBS Global Wealth Management. "The ECB has failed to justify what it's doing in the context of a more profit-focused inflation story." Instead, national accounts and earnings reports from listed companies are being used as proxies to paint the inflation picture. "The main story of the risks going forward is still that there's a looming wage-price spiral which should make the central bank even more aggressive in hiking interest rates." loadingloadingEven inside the ECB, labour representatives demanding higher pay for central bank staff have distanced themselves from what they described as the institution's "anti-worker bias".

☆ Dollar eases as traders look to central banks for cues
▼ + stars: | 2023-01-25 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/IllustrationNEW YORK, Jan 25 (Reuters) - The dollar slipped against the euro on Wednesday, but its losses were capped as traders were hesitant to make any big bets ahead of next week's central bank meetings, including the Federal Reserve and the European Central Bank. "Trading ranges remain remarkably compressed ahead of next week's central bank meetings," said Karl Schamotta, chief market strategist at Corpay. Data on Tuesday showed euro zone business activity made a surprise return to modest growth in January. In contrast, U.S. business activity contracted for the seventh straight month in January, data showed on Tuesday, though the downturn moderated across manufacturing and services for the first time since September. The dollar was down 0.42% against the yen , at 129.615 yen per dollar, having hit a near eight-month low of 127.215 on Jan. 16.

☆ Dollar edges down as traders look to central banks for cues
▼ + stars: | 2023-01-25 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/IllustrationNEW YORK, Jan 25 (Reuters) - The dollar edged down against the euro on Wednesday in subdued trading as investors were hesitant to make any big bets ahead of next week's central bank meetings, including the Federal Reserve and the European Central Bank. "Trading ranges remain remarkably compressed ahead of next week's central bank meetings," said Karl Schamotta, chief market strategist at Corpay. Data on Tuesday showed euro zone business activity made a surprise return to modest growth in January. Expectations of further rate increases by the European Central Bank have also supported the euro. In contrast, U.S. business activity contracted for the seventh-straight month in January, data showed on Tuesday, though the downturn moderated across manufacturing and services for the first time since September.

☆ Tech drags European stocks lower on earnings jitters
▼ + stars: | 2023-01-25 | by ( Ankika Biswas | ) www.reuters.com time to read: +3 min

The pan-European STOXX 600 (.STOXX) fell 0.3%, heading lower for a second day with technology (.SX8P) and telecom (.SX8P) declining the most. "The weak outlook painted by Microsoft is weighing on the wider tech sector," said Michael Hewson, chief markets analyst at CMC Markets in London. European stocks came under pressure on Tuesday, as an improvement in economic activity spurred speculation that the European Central Bank (ECB) might have more room to raise interest rates to tackle inflation. Boosting UK stocks, EasyJet PLC (EZJ.L) jumped 10.6% after projecting it would beat current market expectations for 2023 and deliver a full-year profit. Reporting by Ankika Biswas in Bengaluru; Editing by Subhranshu Sahu and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ German business morale brightens further in January - Ifo
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Kai Pfaffenbach/File PhotoBERLIN, Jan 25 (Reuters) - German business morale brightened in January as Europe's largest economy started the new year with easing inflation and an improved outlook, a survey said on Wednesday. The Ifo institute said its business climate index rose to 90.2, in line with consensus according to a Reuters poll of analysts and up from a reading of 88.6 in December. "The German economy is starting the new year with more confidence," Ifo's president Clemens Fuest said. The increase is driven by considerably less pessimistic expectations, while companies were, however, somewhat less satisfied with their current situation, Ifo said. "The Ifo business climate has recovered significantly for the third time in a row as the easing on the gas market further diminished companies' fears of a severe recession," Commerzbank's chief economist Joerg Kraemer said.

☆ German recession 'very unlikely' given brighter business sentiment, Ifo head says
▼ + stars: | 2023-01-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

A January Ifo survey showed improved sentiment among German businesses. Tobias Schwarz | Afp | Getty ImagesGerman business sentiment improved in January, according to a widely watched survey from the Munich-based Ifo Institute — in a prospective sign that Europe's largest economy could swerve a recession. Ifo's Business Climate Index rose to 90.2 points from 88.6 points previously on "considerably less pessimistic expectations," a release said. "The expectation was that there might be a recession in the fourth quarter of '22 and the first quarter of '23. Fuest said a number of factors were improving within German manufacturing, including energy prices and supply chain bottlenecks easing.

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 7, 2022. Trade in European stocks was lacklustre, as signs of an improving economic outlook in the euro zone fed worries about further rate hikes. AUSSIE DOLLAR SURGEThe Australian dollar surged to $0.7123 after the latest inflation data. Germany's Ifo institute said its business climate index rose to 90.2, in line with the consensus, according to a Reuters poll of analysts, and up from 88.6 in December. U.S. crude futures recently rose 1.01% to $80.94 per barrel and Brent was at $86.68, up 0.64% on the day.

☆ 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 to grow slightly in 2023 - IfW forecast
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +1 min

The Kiel-based institute now expects gross domestic product to increase by 0.3% in 2023, up from the institute's autumn forecast of a 0.7% drop. On Wednesday, the Ifo institute also revised up its 2023 forecast: It still predicts a decline next year of 0.1% but this is less severe than the 0.3% contraction previously forecast. The IfW expects growth of 1.3% growth in 2024 compared to the Ifo's 1.6% forecast for that year. The IfW said it expects inflation to hit 5.4% in 2023, down from its previous 8.7% forecast. On Thursday, the RWI institute said it also expects inflation to ease next year, falling to 5.8% in 2023 after reaching 7.9% this year.

☆ German economic outlook 'brightening' as gas rationing risks fade, says Ifo Institute
▼ + stars: | 2022-11-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGerman economic outlook 'brightening' as gas rationing risks fade, says Ifo InstituteClemens Fuest, president of the Ifo Institute, says the outlook for the German economy is looking slightly brighter as the risks of a gas rationing scenario fade and and consumer spending remains resilient.

☆ Energy supply improvements brighten Germany's economic picture -Ifo
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Nov 22 (Reuters) - Germany's economic picture has become slightly brighter, with improvements in gas supply, in particular, having an effect, the head of Germany's Ifo institute told Reuters on Tuesday. Clemens Fuest said an unexpected month-on-month fall in producer prices and easing supply chain disruptions are cause for optimism, but "the most important point is that the gas supply situation has brightened considerably". Fuest highlighted a warm October, full gas storage facilities and plans for liquefied natural gas (LNG) terminals as positive factors. Fuest said his statements were not a forecast for the upcoming Ifo business climate index to be released on Thursday. Analysts polled by Reuters expect the index to rise slightly in November to 85.0 after a reading of 84.3 the prior month.

☆ Europe’s Car Makers Lean on U.S., China as They Brace for Recession
▼ + stars: | 2022-11-03 | by ( William Boston | ) www.wsj.com time to read: 1 min

BERLIN—European auto makers are looking to the U.S. and China for shelter from the economic storm they say is coming as the war in Ukraine drags on and signs of a looming recession gather in Europe. In a closely watched survey published on Thursday by the Munich-based Ifo Institute, German auto makers and suppliers said they were losing confidence in the European economy. The survey showed a key confidence index for the industry falling sharply in October.

☆ 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.

[1/2] Boards displaying buying and selling rates are seen outside of currency exchange outlets in London, Britain, July 31, 2019. read moreRishi Sunak became Britain's third prime minister in two months on Tuesday, tasked with tackling a mounting economic crisis and a warring political party. The U.S. dollar was broadly weaker amid signs that Federal Reserve rate hikes are slowing the world's biggest economy. YEN AND YUANThe yen firmed against the dollar after suspected Bank of Japan (BOJ) intervention on Friday and Monday. At 147.665 yen, the dollar was down from a 32-year high of 151.94 on Friday, which appeared to trigger successive bouts of BOJ intervention.

☆ Germany heading into recession, ongoing bottlenecks: IFO Institute
▼ + stars: | 2022-10-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGermany heading into recession, ongoing bottlenecks: IFO InstituteIFO Institute President Clemens Fuest discusses the organization's latest business climate index and outlook for the Germany economy.

☆ German companies increasingly struggling to access credit - Ifo
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Oct 24 (Reuters) - Around one in four German companies currently seeking new loans are reporting restraint from lenders as high inflation and concerns over energy supply rattle Europe's largest economy, according to a survey published on Monday. The figure - 24.3% - is the highest seen since 2017, said the Ifo institute, which conducted the survey. Register now for FREE unlimited access to Reuters.com Register"Without new loans, some companies might struggle for economic survival," he added. As many as 28.8% of companies seeking credit in the services sector reported difficulties, around 8.4% of chemical companies and 22.5% automakers, Ifo said. The smallest businesses and the solo self-employed were most affected due to their dependency on bank loans, according to the institute.

☆ Germany's services sector is being dealt the 'most pain,' economist says
▼ + stars: | 2022-09-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGermany's services sector is being dealt the 'most pain,' economist saysClemens Fuest, president of the ifo Institute, discusses how consumer confidence is stacking up against business confidence.

☆ Euro zone yields at multi-year highs, Italian bonds underperform
▼ + stars: | 2022-09-26 | by ( Stefano Rebaudo | ) www.reuters.com time to read: +4 min

Register now for FREE unlimited access to Reuters.com RegisterSept 26 (Reuters) - Euro zone government bond yields jumped to multi-year highs amid expectations that central banks will keep tightening their monetary policy despite recession risks and a new sell-off in British gilts. Meanwhile, the spread between Italian and German yields widened after the rightist coalition won a clear majority in Sunday's elections. Italian bond (BTP) prices are also more susceptible to shifts in interest rate expectations, given the country's vast debt burden. Giorgia Meloni looks set to become Italy's first woman prime minister at the head of its most right-wing government since World War Two. "Bond yields across Europe are correlated, and today's jump in Britain yields is again affecting the euro area," he added.

☆ German tax revenues fall in August for first time this year
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterGerman Finance Minister Christian Lindner holds a news conference about tax revenue forecasts at the Finance Ministry in Berlin, Germany May 12, 2022. REUTERS/Annegret Hilse/File PhotoBERLIN, Sept 22 (Reuters) - Federal and state government tax revenues fell in Europe's biggest economy during August for the first time this year, the finance ministry said on Thursday. Only payroll tax and sales tax showed slight increases, the report said. In first eight months of the year, federal and state tax revenues rose by 12.8% to 522.26 billion euros. read more($1 = 1.0129 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Christian Kraemer Writing by Madeline Chambers.

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