Euro weakness and lower oil prices could expect better economic data.. However, economists see good growth prospects for both Germany and the euro zone – albeit with increasing risks
In Germany, real gross domestic product (GDP) rose to the previous quarter by 0.4 percent, the Federal Statistics Office on Friday. announced. This is Europe’s largest economy after a shock absorber at the beginning of a better ride.
Weak Euro plunges
The weak euro cheapened goods “Made in Germany” on the world markets, the exporters are after strongest first half year since 2011 at a record rate. Consumers consume, thanks to lower energy prices more. Was slowed growth because after the mild winter failed investment in construction in the spring weaker. Details for the second quarter, the Federal Office on August 25
France could not take advantage of the favorable conditions: in the second largest euro area economy, economic output stagnated from April to June – after France to Jahresaufakt even with -. revised – had shined 0.7 percent increase. The country is struggling with high unemployment and reform bottlenecks.
Italy grows weaker than expected
The Italian economy grew by 0.2 percent in the second quarter slightly weaker than expected. Spain, meanwhile, came to 1.0 per cent growth -. However, the country has after a deep slump of its economy catching up to
In the euro area as a whole, growth slowed, according to Eurostat qoq from 0.4 to 0, 3 percent. That is not questionable, says the Euro-chief economist of Unicredit, Marco Valli: Most economic data would promise a good development. He did not believe that the turmoil in China or the simmering crisis in Greece could really threaten the recovery. “The currently excited discussion seems completely overlooked that the euro zone is recovering,” said Helaba economist Stefan cap to China.
Euro Zone remains on course
Basically, stay the currency area with its 19 members on the road to recovery, my, the economists at Allianz. However, “the core countries will have to shift up a gear, because only the economic catch-up in the former crisis countries can not guarantee a continuation of the economic recovery in the euro area”, gave Allianz expert Katharina Utermöhl consider.
Economists who for Germany even with 0.5 percent growth had expected in the second quarter, warn of risks for the German economy: “The economic problems of China have the downside risks for the German economy increases,” writes Commerzbank -Ökonom Ralph Solveen. Thomas Harms, a partner at consulting firm EY affirms: “The dip in growth in China, some German companies that are there very involved, feel painful.” Especially for car manufacturers and machine builders China is an important market
. Turnover of the companies rise
At present, however, Germany’s 30 top companies especially benefit from the weak euro, with sales of Dax -Unternehmen rose from April to June summed up by eleven percent to 335 billion euros – a record in a second quarter as a EY analysis revealed.
The German Chambers of Industry and Commerce (DIHK) holds meanwhile affirmed its forecast of 1.8 percent growth for the German economy in 2015. DIHK-CEO Martin Wansleben but relativized: “A good part of this is the” owe Doping “by low interest rates and oil prices and the low exchange rate. But it we can not put permanently “For the full year 2014, the German economy had grown by 1.6 percent
economic engine sputters
To start to the year, the German economic engine was a bit difficult to stutter..: After a strong final quarter of 2014 – slightly corrected downwards -. 0.6 percent growth there was in the first three months 2015 a considerably lower increase of 0.3 percent
Compared to the respective period last year increased . economic growth to 1.6 percent (Germany) and 1.2 percent (euro area) – by 1.2 per cent (Germany) and 1.0 percent (euro area) in the first quarter 2015
Video: This Chance offer China turbulence for German investors
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