BERLIN (Reuters) – German industrial output fell more than forecast in September and the government’s economic advisers said the economy would grow by just 0.8 percent this year and next as Europe’s largest economy gets dragged deeper into the euro zone crisis.
Recent data from Germany, Europe’s growth locomotive and paymaster, has been largely disappointing, with business sentiment worsening, the private sector contracting, joblessness rising and industrial orders falling at their sharpest rate in a year, though consumer morale has held up and exports have leapt.
BERLIN, Nov 7 (Reuters) – Germany must do more to
consolidate its budget given a darkening outlook, the country’s
panel of economic advisers said on Thursday.
The group, traditionally known as the “wise men”, criticised
the social welfare plans Chancellor Angela Merkel’s cabinet
agreed ahead of next year’s federal elections.
BERLIN, Oct 31 (Reuters) – Germany has its sights on a
balanced budget by 2014 but strong recent growth in tax revenues
will tail off from next year, Finance Minister Wolfgang
Schaeuble said on Wednesday.
Germany’s income from tax receipts should be 5.8 billion
euros higher than previously forecast in 2012, the Finance
Ministry said on Wednesday, although it will inch below previous
estimates in three of the following four years.
BERLIN (Reuters) – German industrial orders dropped in August as a slide in domestic demand outweighed an improvement in euro zone contracts, denting hopes that domestic appetite will sustain growth in Europe’s largest economy.
Seasonally and price-adjusted order intake dipped 1.3 percent on the month, missing by a wide margin the mid-range forecast in a Reuters poll for a 0.5 percent drop. Domestic bookings tumbled 3.0 percent.
BERLIN, Sept 9 (Reuters) – A lawmaker from Angela Merkel’s
conservatives has lodged a new complaint with Germany’s top
court over euro zone bailouts, but legal experts and MPs say
this is unlikely to prevent the court from making a key ruling
on the bloc’s rescue fund this week.
Germany’s constitutional court holds the fate of the euro in
its hands when it rules on Wednesday whether the European
Stability Mechanism (ESM) can go ahead, after already holding it
up for several months.
BERLIN (Reuters) – A lawmaker from Angela Merkel’s conservatives has lodged a new complaint with Germany’s top court over euro zone bailouts, but legal experts and MPs say this is unlikely to prevent the court from making a key ruling on the bloc’s rescue fund this week.
Germany’s constitutional court holds the fate of the euro in its hands when it rules on Wednesday on whether the European Stability Mechanism (ESM) can go ahead, after already holding it up for several months.
BERLIN (Reuters) – German exports and imports edged up in July and industrial output rose unexpectedly, showing sustained resilience in Europe’s largest economy to the euro zone crisis, but economists expect to see increased signs that business is now flagging.
Data from the Federal Statistics Office showed exports and imports from Europe’s growth engine inched up a seasonally adjusted 0.5 percent and imports gained 0.9 percent in July, boosting expectations that domestic demand will carry the German economy through the debt crisis and a global slowdown in demand.
BERLIN, Aug 14 (Reuters) – The German economy grew 0.3
percent in the second quarter, slightly more than expected,
although economists said the euro zone crisis and slowing global
growth may push the country into a contraction soon.
Preliminary data from the Statistics Office showed that
exports to countries outside of Europe and a pickup in
consumption compensated for investment weakness linked to the
euro zone’s problems in April-June.
BERLIN/PARIS (Reuters) – Germany posted modest economic growth in the second quarter of the year and France stagnated, official data showed on Tuesday, suggesting the euro zone as a whole contracted over the three months.
Europe’s largest economy eked out growth of 0.3 percent over the quarter, marginally beating forecasts, but it is unlikely to be able to defy gravity indefinitely unless decisive action is taken to tackle the currency bloc’s debt crisis.
KARLSRUHE, Germany (Reuters) – Germany’s top court agreed on Tuesday to examine complaints lodged against the EU’s bailout fund and new budget rules but gave no date for its verdict, keeping investors on tenterhooks over the prospects for overcoming the euro zone crisis.
Finance Minister Wolfgang Schaeuble urged the Constitutional Court to reach a speedy decision and said any significant delay in approval of the anti-crisis tools would stoke financial market turbulence and erode confidence in the common currency.