Germany's bleak economy has finally shown a glimmer of light
因醉鞭名马幌
发表于 2023-10-26 10:41:56
317
0
0
The Ifo Business Prosperity Index increased by 1.1 percentage points month on month. The director of the Ifo Institute stated that this is a "glimmer of hope" for Germany's bleak economy. Most experts do not expect significant growth until next year.
A glimmer of light in the bleak economy
In October, the mood of German business executives unexpectedly improved significantly. The Ifo Research Institute in Munich announced on Wednesday that the business climate index of the Ifo survey of approximately 9000 managers increased by 1.1 points from the previous month, reaching 86.9 points.
Reuters reported that the previous expert survey expected only 85.9 points. The German company was more satisfied with the business at that time, and at the same time, had less confidence in the evaluation of the prospects than before. Clemens Fuel, director of Ifo, said, "The German economy has seen a glimmer of light
The German economy shrank for two consecutive quarters at the end of 2022 and the beginning of 2023, and stagnated in the spring of 2023. The Bundesbank and many economists believe that the recent summer quarter saw a decline in gross domestic product. This means that Germany is once again in danger of a technological decline. Most experts predict that the German economy will not experience significant growth until next year.
Good news from the construction industry
There is also good news: the order growth of the German construction industry in August exceeded the growth rate in a year and a half. The Federal Bureau of Statistics announced on Wednesday that after adjusting for inflation, the actual value of new business in the construction industry has increased by 10.8% compared to the previous month. This is the largest increase since the end of 2021. July has seen a strong growth of 9.6%. However, sales in the first eight months of this year decreased year-on-year: orders actually decreased by 7.6%.
The growth of underground construction business, including road construction, is particularly strong: new orders received in August increased by 18.6% compared to the previous month. Statisticians explain that this is mainly the result of large project orders. The growth rate of high-rise buildings, mainly residential construction, was only 1.8%.
Sales in the construction industry also increased in August. Due to the significant increase in construction prices, it increased by 3.8% compared to the same month last year, reaching 9.9 billion euros. After adjusting for inflation, the actual increase was only a small 0.1%. From January to August, actual sales decreased by 4.0% year-on-year. Nevertheless, the number of construction industry employees in August still increased by 1.2% compared to the same period last year.
The European Central Bank (ECB) hopes to address high inflation by significantly raising interest rates, but this clearly poses serious problems for the construction industry. High interest rates make many projects unprofitable for builders, especially when construction prices rise significantly. The mood of many companies has correspondingly deteriorated: for example, the commercial atmosphere in the Ifo residential construction industry has recently been at its lowest level since the survey began in 1991. The sluggish atmosphere in the construction industry has also brought pressure to the overall economy.
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
- German unions successfully put pressure on Tesla to announce a 4% salary increase for German workers starting from November
- ASML plans to expand production capacity and development capabilities at the Berlin chip manufacturing plant in Germany
- Deutsche Bank issues "Panda Bonds" again, optimistic about the development prospects and potential of RMB financing
- Rheinland Group and NIO have reached a power supply cooperation agreement
- ArcelorMittal is expected to receive subsidies from the German government to support its green transformation
- AMD's financial report is mixed: performance guidance falls short of expectations, but AI chip sales prospects are bright
- Deutsche Bank has raised the ADR rating of Ideal Automobile to its buy target price of $41
- GLP-1 Weight Loss Drug Production Capacity Warming Up: Lilly builds a factory in Germany for $2.5 billion and is expected to operate in 2027
- Volkswagen suddenly announced! Consider closing German factories to cut expenses
- The Federal Reserve will have an important meeting next week! International banks predict 'bright prospects for interest rate cuts'
-
知名做空机构香橼研究(Citron Research)周四(11月21日)在社交媒体平台X上发布消息称,该公司已决定做空“比特币大户”微策略(Microstrategy)这家公司,并认为该公司已经将自己变身成为一家比特币投资基金 ...
- caffycat
- 昨天 11:18
- 支持
- 反对
- 回复
- 收藏
-
每经AI快讯,11月20日,文远知行宣布旗下自动驾驶环卫车S6与无人扫路机S1分别在新加坡滨海湾海岸大道与滨海艺术中心正式投入运营。据介绍,这是新加坡首个商业化运营的自动驾驶环卫项目。 ...
- star8699
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
上证报中国证券网讯(记者王子霖)11月20日,斗鱼发布2024年第三季度未经审计的财务报告。本季度斗鱼依托丰富的游戏内容生态,充分发挥主播资源和新业务潜力,持续为用户提供高质量的直播内容及游戏服务,进一步 ...
- goodfriendboy
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
人民网北京11月22日电 (记者栗翘楚、任妍)2024广州车展,在新能源汽车占据“半壁江山”的同时,正加速向智能网联新能源汽车全面过渡,随着“端到端”成为新宠,智能驾驶解决方案成为本届广州车展各大车企竞 ...
- 3233340
- 昨天 17:06
- 支持
- 反对
- 回复
- 收藏