The Association of German Chambers of Industry and Commerce, based on data from a survey of about 25 thousand companies, has worsened Germany’s GDP growth forecast for 2019 from 0.9% to 0.6%, which is mainly due to lower expectations regarding the prospects for the manufacturing sector and the global slowdown in the economy. President of the Association, Eric Schweitzer, pointed out that German business expectations for exports dropped to the lowest level in the last 10 years amid a slowdown in global economic growth. In his opinion, this situation will entail a further deterioration in investment plans, as well as employment plans in the industrial sector. Previously published data from the IFO Institute showed a sharp decline in the confidence of German exporters in May due to the exacerbation of global trade wars.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
The Dollar traded lower earlier on Friday in Asia, continuing its descent from the previous session as the U.S. struggles to curb the rapid increase of COVID-19 cases in the country. In addition, recent data showing an unexpected rise in unemployment ...
The reimplementation of virus-related lockdowns in some states dragged the U.S. economic outlook in the past month, according to economists in a Reuters poll who also warned that the monitored rebound in employment may reverse by the end of ...