Inflation fell to 3.8 per cent in Germany and the overall economy was stronger than expected
楚一帆
发表于 2023-10-31 16:24:54
329
0
0
October inflation is about 3.8%.
Inflation in Germany continues to decline. The first preliminary estimates were published by the Federal Statistical Office on Monday, and the cost of goods and services in October was on average 3.8 per cent higher than in the same period last year. This was the lowest inflation since August 2021, when it was the same as it is now. Given 4.5 per cent inflation in September, Reuters-surveyed economists had previously expected inflation to drop to 4.0 per cent in October.
The European Central Bank (ECB) believes that the ideal inflation rate for the euro economic zone should be 2 per cent. Last week, the Central Bank decided to suspend consecutive interest rate hikes in view of the weak economy and declining inflation data. Inflation in the euro area fell to 4.3 per cent in September and 5.2 per cent in August. In autumn 2022, inflation was once more than 10 per cent. Experts expect further reductions in inflation to 3.2 per cent in October.
Economic contraction is stronger than expected
Preliminary estimates by the Federal Bureau of Statistics also show that the gross domestic product (GDP) in the third quarter declined by only a small 0.1 per cent from the previous quarter. Economists had mostly predicted a sharp drop of about 0.3%. The recession is certainly an economic recession, but it may be moderate. The German economy is more stable than expected.
In terms of price adjustments, GDP declined by 0.8 per cent in the third quarter on a year-on-year basis. But this year's working day was short. After the adjustment, the decrease remained at 0.3 per cent.
The latter two quarters were also slightly updated by statisticians. To date, they have reported a change in the growth rate from -0.1 per cent to 0 per cent in the first quarter and an increase in the growth rate from -0 per cent to 0.1 per cent in the second quarter.
The slowdown in German economic growth was due mainly to high inflation, a sharp rise in interest rates, weak exports and the burden placed on most industries by rising energy prices. Hope lies in the increased purchasing power of consumers. Wages and salaries have increased faster than prices for the first time in two years. Inflation is slowing down.
Christoph Swanke of the Central Cooperative Bank of Germany commented on these data that “the period of weakness will continue. Economic recovery is not expected until early next year.”
For more than a year, Germany has hovered between low growth and a slight recession. With the revision of the statistics, economic stagnation and contraction are no longer going on.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Dissatisfied with Musk's support for Trump, German retail chain Rosman will no longer purchase Tesla cars
- The three-year inflation expectation in the United States has fallen to a historic low, and the Federal Reserve's September interest rate cut is imminent
- Next week's global highlights: The Federal Reserve's most favored inflation indicator will be released, and Nvidia's financial report will test AI trading
- The most important inflation indicator of the Federal Reserve has been revealed, and how is the situation in the Middle East developing
- Former US Treasury Secretary says: The Federal Reserve cannot cut interest rates too much, otherwise inflation will come back!
- Tesla Germany factory employee sick leave rate rises to 17%, Musk personally investigates
- Germany will increase anti-monopoly supervision on Microsoft
- TSMC expands globally! After the landing of the German factory, it is reported that more wafer fabs will be built in Europe
- Go long on gold and Bitcoin! Legendary investor: No matter who is elected president, inflation in the United States will rise
- Tesla raises wages of German Gigafactory employees by 4%
-
随着“银十”结束,各家造车新势力都交出了一份亮眼的成绩单。 理想领跑10月新势力交付榜,鸿蒙智行重回4万辆,零跑、深蓝、极氪、小鹏等单月交付量均创新高,岚图、阿维塔、智己等实现破万,但哪吒却消失在 ...
- fanadam
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
为期超七周的大罢工终于落下帷幕。 当地时间11月4日,波音美国西海岸工厂工人们就改进后的合同提案投票。 随后,代表着波音超过33000名西雅图地区机械师的IAM工会经表决,以59%的同意票决定接纳波音提 ...
- cristianna
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
“新四化”的时代浪潮下,新能源汽车行业百家争鸣。伴随着自主品牌不断崛起,合资品牌当下的生存状况备受外界关注,如何打好电动化时代的突围战,成为合资品牌的新课题。 作为国内合资车企的代表之一,上汽 ...
- mbgg2797
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
证券时报网讯,热门中概股美股盘前普涨,小鹏汽车、哔哩哔哩涨近5%,蔚来涨超4%,阿里巴巴、拼多多涨超2%。
- p609520
- 3 天前
- 支持
- 反对
- 回复
- 收藏