Passa ai contenuti principali

UPDATE 1-Germany to halve 2019 economic growth forecast to 0.5 pct - Spiegel - Reuters

UPDATE 1-Germany to halve 2019 economic growth forecast to 0.5 pct - Spiegel - Reuters

https://www.reuters.com/article/germany-economy/update-1-germany-to-halve-2019-economic-growth-forecast-to-0-5-pct-spiegel-idUSL8N21T6CX

UPDATE 1-Germany to halve 2019 economic growth forecast to 0.5 pct - Spiegel - Reuters

(Adds details)

BERLIN, April 11 (Reuters) - The German government is expected to halve its economic growth forecast for 2019 to 0.5 percent from 1.0 percent due to weaker exports in the wake of global trade tensions, the news magazine Der Spiegel reported late on Thursday.

It said the new forecast for Europe's largest economy, which is to be released next Wednesday, could still change marginally.

The government expects gross domestic product to grow by 1.5 percent in 2020, partly because of positive calendar effects from four public holidays falling on weekends, Spiegel reported.

Germany's leading economic institutes last week also revised down their 2019 growth forecast to 0.8 percent from a previous estimate of 1.9 percent.

New data released this week showed that German exports and imports had fallen more than expected in February.

Germany's economy is facing headwinds from a slowing world economy, global trade disputes and the threat of Britain leaving the European Union without a deal. Its manufacturing sector is in recession as exporters bear the brunt of weaker demand.

The export-dependent economy has been relying on consumption and state spending for growth, helped by a solid labour market and low interest rates, but last year posted its weakest growth rate in five years.

The weaker growth forecast will inform Germany's tax forecast, to be released in May. (Reporting by Andrea Shalal; Editing by Kevin Liffey)



Fabrizio 

Commenti

Posta un commento

Post popolari in questo blog

Fwd: The Looming Bank Collapse The U.S. financial system could be on the cusp of calamity. This time, we might not be able to save it.

After months  of living with the coronavirus pandemic, American citizens are well aware of the toll it has taken on the economy: broken supply chains, record unemployment, failing small businesses. All of these factors are serious and could mire the United States in a deep, prolonged recession. But there's another threat to the economy, too. It lurks on the balance sheets of the big banks, and it could be cataclysmic. Imagine if, in addition to all the uncertainty surrounding the pandemic, you woke up one morning to find that the financial sector had collapsed. You may think that such a crisis is unlikely, with memories of the 2008 crash still so fresh. But banks learned few lessons from that calamity, and new laws intended to keep them from taking on too much risk have failed to do so. As a result, we could be on the precipice of another crash, one different from 2008 less in kind than in degree. This one could be worse. John Lawrence: Inside the 2008 financial crash The financial...
Posta un commento
Continua a leggere

3 Reasons Why Gold Will Outperform Equities And Bonds

3 Reasons Why Gold Will Outperform Equities And Bonds https://www.forbes.com/ 3 Reasons Why Gold Will Outperform Equities And Bonds For centuries, gold has played a major role in human history and has become interwoven into the financial fabric of society. Beyond its investment following, gold has become synonymous with wealth. Historically, gold's early use cases revolved around money – a form of "medium of exchange". After the second world war however, several countries and their respective currencies, started to shift away from the gold standard and migrated towards a fiat currency system. Today, gold remains largely a "Store of Value", and due to its unique properties and large number of use cases, it has managed to distance itself from other asset classes in terms of correlation, demand / supply drivers, and investment purpose. Gold's idiosyncrasies function as a double-edged sword, as it is challenging to predict ...
Posta un commento
Continua a leggere

China Market extends fall on talks of less stimulus

Headline indices of the Mainland  China  equity market closed down for second straight day on Tuesday, 23 April 2019, as profit booking selloff continued after a flurry of comments from policymakers signaled they're less comfortable about adding stimulus. At closing bell, the benchmark Shanghai Composite Index declined 0.51%, or 16.45 points, to 3,198.59 The Shenzhen Composite Index, which tracks stocks on China's second exchange, fell 1.32%, or 23.05 points, to 1,728.86. The blue-chip CSI300 index shed 0.16%, or 6.60 points, to 4,019.01.  Top-ranking policymaking bodies including the Politburo, the State Council, the central  bank  and the  Central Financial and Economic Affairs Commission  have all held meetings in the last two weeks.  China  should fine-tune monetary policy in a pre-emptive way based on economic growth and price changes, according to a top-level meeting reports chaired by  President  Xi Jinping.  Monetary po...
Posta un commento
Continua a leggere