BERLIN (Reuters) – Germany’s manufacturing sector contracted in October for the first time in more than two years as new orders fell for a fourth month in a row, data showed on Wednesday in the latest sign Europe’s bulwark economy is set for a sharp slowdown.
Markit’s Purchasing Managers’ Index (PMI) fell for a sixth consecutive month in October to hit 49.1 — just above an initial estimate of 48.9 but below the key 50 line that divides growth from contraction.
BERLIN, Oct 28 (Reuters) – A German court on Friday
suspended a parliamentary committee’s right to approve urgent
actions by the euro zone’s bailout fund, potentially delaying
decision-making in Europe’s top economy on key moves to tackle
the bloc’s crisis.
A spokeswoman for the Constitutional Court said it would
investigate whether the planned use of a small closed-door
committee of 9 German lawmakers to consider urgent matters
relating to the European Financial Stability Facility (EFSF)
infringed on lawmakers’ rights.
BERLIN, Oct 27 (Reuters) – German annual inflation
unexpectedly slowed in October, strengthening the case for a
growth-boosting interest rate cut by the European Central Bank
in the near future as the region’s economy weakens.
Prices still rose 2.5 percent on the year — well above the
ECB’s target of just under 2 percent. But this was mostly due to
energy prices, the Federal Statistics Office said on Thursday,
and down from a reading of 2.6 percent in September when
inflation jumped unexpectedly to a three-year high.
BERLIN (Reuters) – German Chancellor Angel Merkel looks set to win a parliamentary vote Wednesday on boosting the firepower of the euro zone rescue fund with a large majority, bolstering her negotiating strength ahead of a crunch EU summit.
Merkel needs to win the vote in the Bundestag lower house of parliament, due around 1200 GMT, to have a mandate to negotiate a deal with other EU leaders aimed at delivering a range of measures to stop the euro zone debt crisis spiralling.
BERLIN (Reuters) – German lawmakers flexed their muscles to secure a full parliamentary vote Wednesday on euro zone crisis measures negotiated by Chancellor Angela Merkel and her euro zone peers, a move senior politicians said would give Merkel a stronger mandate.
The new vote comes just one month after Germany’s Bundestag (lower of house of parliament) approved greater powers for the euro zone rescue fund, and should pass without problems, but it risks delaying Europe’s response to the debt crisis at a crucial juncture.
BERLIN, Oct 25 (Reuters) – German consumer morale
unexpectedly rose going into November as a strong labour market
bolstered income expectations despite a darkening economic
outlook, the GfK market research group said on Tuesday.
The forward-looking index of consumer morale, based on a
survey of 2,000 Germans, rose to 5.3 from a reading of 5.2 in
the previous month. This beat a forecast in a Reuters poll of
economists for a fall to 5.1.
BERLIN, Oct 24 (Reuters) – Angela Merkel’s supporters
praised her for getting France to drop demands to use the
European Central Bank to leverage euro crisis funds, but looked
like making a meal out of the German parliament’s new right to
be consulted on how these are used.
“Merkel’s Battle for our Euro,” was Monday’s headline in the
mass-circulation conservative paper Bild, saying she taught
France’s Nicolas Sarkozy “that the EFSF rescue fund cannot be
used to print money” to solve the debt crisis.
BERLIN, Oct 21 (Reuters) – German business sentiment fell
for the fourth month in a row in October, dropping to its lowest
level since mid-2010 and compounding fears Europe’s powerhouse
economy is headed for a sharp slowdown.
The Munich-based Ifo economic think tank said on Friday that
its closely-watched business climate index, based on a monthly
survey of some 7,000 companies, fell to 106.4 in October from a
revised 107.4 in September.
BERLIN (Reuters) – Germany’s government nearly halved its forecast for growth next year to one percent on Thursday due to dampened expectations for exports, compounding fears that Europe’s powerhouse economy is facing a sharp slowdown.
Chancellor Angela Merkel’s government cut its forecast for 2012 growth from a previous 1.8 percent, as well as reducing its outlook for this year to 2.9 percent from three percent.
BERLIN (Reuters) – Germany’s 30 top companies set voluntary targets on Monday to raise the number of women in leadership positions, in the hope of averting legally imposed quotas as a campaign to smash the glass ceiling gains momentum.
While the political leader of Europe’s largest economy is a woman, corporate management is still heavily dominated by men. There was not a single woman on the management board of a blue-chip firm until 2008, and today only 3.7 percent of top German managers are female.