BERLIN (Reuters) – The German economy grew by a weaker than expected 0.4 percent last year, its worst performance since the global financial crisis in 2009, with strong domestic demand only partially offsetting the continued negative impact of the euro crisis.
Yet economists said the data masked the underlying strength of Europe’s largest economy, which they said could grow by up to 2.2 percent in 2014 as the global upturn boosts exports and low interest rates unleash a recovery in investment.
BERLIN/COLOGNE (Reuters) – German prosecutors have charged an 88-year-old former member of Hitler’s elite Waffen SS with taking part in a World War Two massacre of hundreds of French villagers, nearly 70 years after one of the most infamous Nazi atrocities.
In the methodical June 1944 slaughter, SS soldiers took the small village of Oradour-sur-Glane in central France by surprise and killed nearly all its inhabitants within a few hours. They killed 642 men, women and children.
BERLIN, Jan 6 (Reuters) – A closely-watched measure of
German inflation decelerated sharply in December to 1.2 percent,
adding to fears of deflationary pressure across Europe.
Economists said the slowdown was in part due to a change in
methodology but the numbers may still add pressure on the
European Central Bank to take some action to stave off any
BERLIN, Jan 6 (Reuters) – German annual inflation probably
accelerated slightly in December albeit remaining below the
European Central Bank’s euro zone target, data from three
federal states suggested on Monday.
Full data is due later in the day.
Inflation in Germany at the last reading was 1.3 percent
annually, below the ECB’s target of close to but just below two
percent in 2013. But it is expected to accelerate this year
which could cause a policy headache for the ECB and its
one-size-fits-all interest rate policy.
BERLIN, Jan 2 (Reuters) – Germany’s BGA trade group
criticised Chancellor Angela Merkel’s coalition government on
Thursday, saying its policies risked deterring investment and
crimping economic growth by raising employment costs.
The group predicts German economic growth will pick up to
1.5 percent in 2014 from around 0.5 percent last year thanks to
a strengthening global economy and rising demand for products
“Made in Germany”.
BERLIN, Dec 12 (Reuters) – A reduction in U.S. monetary
stimulus has already been priced in by markets, the head of
Poland’s central bank said on Thursday, and any effect on Polish
bonds and currency should be limited.
Speaking in Berlin, Governor Marek Belka also said economic
forecasts due in March from the Polish central bank would
provide support for deciding on future rate guidance.
BERLIN, Nov 5 (Reuters) – Previously unknown paintings by
Henri Matisse and Otto Dix are among a vast trove of Nazi-looted
art found in a Munich apartment that includes works by some of
Europe’s most celebrated artists, German experts said on
Customs investigators seized the 1,400 art works, dating
from the 16th century to the modern period and by artists such
as Canaletto, Courbet, Picasso and Toulouse-Lautrec, last year,
an official said.
BERLIN (Reuters) – Previously unknown paintings by Marc Chagall and Otto Dix are among a vast trove of Nazi-looted art found in a Munich apartment that includes works by some the 20th century’s most celebrated artists, German experts said on Tuesday.
Customs investigators seized the 1,400 artworks, dating from the 16th century to the modern period and by artists such as Canaletto, Courbet, Picasso and Toulouse-Lautrec, last year, an official said.
BERLIN (Reuters) – Angela Merkel’s conservatives on Thursday rejected U.S. criticism of Germany’s dependence on exports but her likely future coalition partner agreed Europe’s bulwark economy must do more to spur domestic demand.
The United States has long called for countries like China and Germany with trade surpluses to do more to spur imports but the Obama administration’s reprimand in a semi-annual report to Congress on Wednesday stood out for its stark language.
BERLIN (Reuters) – German business morale dropped for the first time in six months in October, underscoring the fragility of a recovery in Europe’s largest economy that is widely expected to pick up momentum next year.
The Ifo think tank said on Friday its business climate index, based on a monthly survey of 7,000 firms, dropped to 107.4 from 107.7 in September. The reading fell short of the consensus forecast in a Reuters poll of economists for a gain to 108.0, and nudged the euro lower against the dollar.