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Germany’s Economy Shrinks in April-June Period of 2019

15 Aug 2019 Wadsam Afghanistan Business News

Germany’s GDP has decreased by 0.1% compared to the first

quarter according to the Federal Statistics Office caused by a decline in

exports amid concerns of a global slowdown.

According to Andrew Kenningham, the chief Europe economist

of Capital Economics, the third quarter might be bad as the “manufacturing

business surveys for July were all gloomy.”

Household and government expenditure have increased in

Germany alongisde investment outside the construction sector.

Germany is not in a recession but could avoid one by taking

the right measures,” said Economy minister Peter Altmaier.

According to Economics correspondent Andrew Walker, China is

at the center of the trade storms and is an important export market for

Germany. Trade has held Germany’s economy back but consumer spending and

investment in Germany both rose.

Business confidence has been low in Germany so recession is

a certain possibility but Germany can easily avoid it. Business confidence has

decreased because of the US-China trade war and Brexit which has affected

global economic confidence.

The IMF (International Monetary Fund) cut its growth

forecasts for the global economy due to US-China tariffs, US car tariffs and

Brexit – especially with no deal.

The European Central Bank has hinted it could decrease

interest rates to tackle the slowdown in the economy. They have also forecasted

rate current or lower levels until mid-2020 due to a weak manufacturing sector

and uncertainty over Brexit. 

The post Germany’s Economy Shrinks in April-June Period of 2019 appeared first on Wadsam.

Original Link: https://wadsam.com/international-business-news/germanys-economy-shrinks-in-april-june-period-of-2019/

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