They have this annoying tendency to not spend money they don’t have.
It has to do with something they call “debt.” Whatever that is.
Analysis: Spend the recession away? Not the thrifty Germans – A drop-off in spending by inflation-hit consumers was one of the main reasons Germany fell into recession in the first quarter, even as other countries in the region managed to avoid it.
What’s more, even with inflation starting to ease across Europe, the signs are that Germany’s famously thrifty shoppers are not ready to spend their way out of recession – meaning the region’s largest economy will have to look elsewhere for growth.
Literally, “Job of the Bible’s message.” Bad news, in other words. Evil tidings.
HIOBSBOTSCHAFT FOR GERMAN ECONOMY: Industrial Production Surprisingly Down Sharply.
Germany’s Industrial Plunge Revives Winter Recession Fears – German industrial production sank by the most in a year — raising the risk that Europe’s largest economy slipped into a winter recession.
Output dropped 3.4% in March, more than the 1.5% decline economists had predicted in a Bloomberg survey. The decrease was especially pronounced in the automotive sector, according to the statistics office.
German economy unexpectedly shrinks in Q4, reviving spectre of recession – The German economy unexpectedly shrank in the fourth quarter, data showed on Monday, a sign that Europe’s largest economy may be entering a much-predicted recession, though likely a shallower one than originally feared.
Gross domestic product decreased 0.2% quarter on quarter in adjusted terms, the federal statistics office said. A Reuters poll of analysts had forecast the economy would stagnate.
It wasn’t our fault, Mom. The other kids were jumping off the bridge too. That’s why we’ve got this recession now, see?
Germany blames Putin for pushing economy towards recession – Vice-chancellor Robert Habeck signals ‘substantial downturn’ in the coming quarters.
Habeck (Greens) blamed the gloomy forecast on Vladimir Putin’s attempts to use energy as a tool to destabilize Europe. Habeck said forecasts would have been worse if Berlin had not taken action to soften the blow.
How’s it go again? The bigger they are, the harder their tax revenues fall? Jeepers. I wonder why tax revenues would be falling in Germany these days. It’s not like businesses are only just beginning to go bankrupt thanks to Germany’s dependency on Russian gas, Green utopian make-believe, skyrocketing energy costs and the resulting crazy inflation. It must be something else.
German tax revenues fall in August for first time this year – Federal and state government tax revenues fell in Europe’s biggest economy during August for the first time this year, the finance ministry said on Thursday.
That means weak link. I could also mean limp member, but let’s not go there.
Weak. You know. Like the German economy?
From Europe’s powerhouse to its weak link: Germany’s economy stutters – Economic model that depends on exports has been hit by a series of external shocks.
Germany is experiencing a squall of shocks that are darkening its economic outlook. Along with soaring inflation, persistent supply chain problems and weaker global demand are weighing heavily on its industrial sector.
“What’s most worrying is just how broad-based the weakness in the economy is,” said Clemens Fuest, head of the Ifo Institute, a think-tank. In previous downturns, services suffered but industry recovered, and vice versa. “But now we’re seeing weakness across the board.”
Germany on cusp of recession, says ifo, after business sentiment falls – German business morale fell more than expected in July as high energy prices and impending gas shortages push Europe’s largest economy to the cusp of recession, a survey showed on Monday.
The Ifo institute said its business climax index was 88.6, its lowest level in more than two years. June had also seen an unexpected drop to a downwardly revised reading of 92.2.
Faces plagued by real problems, for a change. Problems like finding new sources of energy that will keep your homes heated and your economy running (and breaking free from your dependency on Russian energy = 50%), skyrocketing inflation, dire economic forecasts and that little war thing going on in Ukraine just a few miles down the road, for instance. COVID-19? What’s COVID-19?
Starting Friday, a number of rules and restrictions went away in much of Germany. That means no more masks in most shops, and no more proof of vaccination or day-of test in restaurants. Though some public transportation systems, individual businesses and institutions will keep mask requirements in place, the move to drop the majority of mandates tracks with many of Germany’s neighbors.
A $256.15 quadrillion zillion stimulus package of their own money taken from them by their government and given back to them as a gift (to be paid back to the government by their grandchildren and great-grandchildren and so on should they ever have any) has lifted German spirits.
Sort of. But just keep smiling through the Coronavirus stimulus party anyway, Germany.
German consumer morale improved less than expected heading into October, a survey showed on Wednesday, putting a damper on hopes that household spending in Europe’s largest economy will be strong enough to drive a quick recovery from the COVID-19 shock.
The GfK institute said its consumer sentiment index, based on a survey of around 2,000 Germans, edged up to -1.6 heading into October from an upwardly revised -1.7 in the previous month.
Personally, I think it’s time to start talking about the 2-day work week. But that’s just me. I’m a visionary or something.
Germany’s biggest union calls for 4-day week to save thousands of jobs – Germany’s automotive and industrial sectors were already undergoing huge structural changes before the pandemic struck. The IG Metall union thinks a shorter working week could now help prevent mass layoffs.
In the upcoming union talks, Hoffman said IG Metall would call for a wage increase for workers, despite the recession.