Slumping exports sent Germany’s economy into reverse in the second quarter, with prospects of an early recovery slim as its manufacturers struggle at the sharp end of a global slowdown amplified by tariff conflicts and fallout from Brexit.
Data showed on Wednesday that the overall output fell 0.1% quarter-on-quarter, and with pressure growing for the government to provide stimulus through fiscal reforms, the economy minister said action was needed to prevent a second consecutive quarter of contraction that would tip the country into recession.
The global slowdown, reinforced by Chinese industrial output expanding at its lowest rates in 17 years in July, has broadly impacted the euro zone, where corresponding data showed second quarter growth halved to 0.2%.
But Germany’s traditionally export-reliant economy - Europe’s largest - has been particularly vulnerable, amid signs that the boost it has received from a sustained period of surging domestic demand is waning.
16 Aug 2019 05:42 PM
The Indian rupee fell for a sixth week against the dollar, its biggest losing streak since May last year, as trade tensions and global growth
16 Aug 2019 03:41 PM
The yen hit session lows versus the dollar near 106.50 levels, as the recovery in the risk sentiment gathered steam, as reflected by the extension of the relief rally in the Treasury yields and S&P 500 futures.
16 Aug 2019 03:37 PM
The pound gained for a second consecutive day on Friday after a stream of resilient economic data this week calmed sentiment on the health of the UK economy and as opposition parties launched plans to block a no-deal Brexit.
16 Aug 2019 03:33 PM
The euro fell to a two-week low on Friday against the dollar, which extended the gains it made the day before after U.S. retail sales data came out better than expected .
16 Aug 2019 02:57 PM
Indian equity indices slipped on Friday as the local markets caught up with a broader selloff in the previous day after fears of a recession in the United States stoked worries about global growth.
16 Aug 2019 02:18 PM
China's yuan eased on Friday, pressured by a stronger dollar and trade worries after Beijing pledged to retaliate for the latest U.S. tariffs. The dollar firmed