Recession reached Germany 14. November 2008 by Thomas Jannot For the second time in a row German GDP has fallen. According to the official definition this means that Germany is going through a recession. GDP decreased by 0.5% in the third quarter this year as compared to the second quarter after adjustments for price, season and calendar. In the second quarter 2008 German GDP …
German service providers quite pessimistic 13. November 2008 by Thomas Jannot German service providers assess business prospects for the twelve months to come in a more pessimistic way than in spring. The reasons for this are the global crisis on financial markets and increasing fears that Germany might be faced with a longer slowdown in its economy. This is the finding of the autumn survey carried …
Turnover in processing industry falling 13. November 2008 by Thomas Jannot In September 2008 turnover in the German processing industry fell by 2.0% in real terms as compared to September 2007. In August turnover was still up by +2.6%. Turnover generated within Germany fell by 1.1% while sales abroad decreased by 3.1% (in countries within the Eurozone by 3.2%, in the rest of the world by …
Prices in wholesale trade increased in October 13. November 2008 by Thomas Jannot Wholesale trade prices increased by 3.6% in October this year as compared to October 2007. Even though this is quite an increase, the price rise is significantly smaller than in August and September this year (+7.4% and +5.8% respectively). From September to October the wholesale trade price index fell by 1.5%. Wholesale trade prices for …
Educational backlog threatens innovation potential of Germany 13. November 2008 by Thomas Jannot With regard to its innovational capability Germany ranks 8th among 17 industrialized countries. At the top are Sweden, the USA, Switzerland, Finland and Denmark and at the bottom end Spain and Italy. As far as its educational system is concerned, Germany is second from the bottom. This is the finding of a study called „innovation …
Company insolvencies down by 8.7 percent in August 10. November 2008 by Thomas Jannot In August this year the crisis on financial markets did not yet affect the financial situation of businesses in Germany. The number of insolvencies was thus quite small: there were in total 12,442 insolvencies, 2333 of which business insolvencies and 7,838 consumer insolvencies. As compared to August 2007 this corresponded to a decrease by 13.0% …
German exports up by almost 7 percent in September 10. November 2008 by Thomas Jannot German exports increased by 6.9% in September to 87.1 billion Euros as compared to September 2007. Imports increased by 14.1% to 72.2 billion Euros. After adjustments for calendar and season, exports and imports increased by 0.7% and 0.9% respectively in comparison with August this year. The foreign trade balance surplus at the end of September …
Orders received by industry down by 8 percent 7. November 2008 by Thomas Jannot According to preliminary data provided by the Federal Statistical Office the number of orders received by German industry fell by 8 percent in September after adjustments for price and season. This development is quite worrying, because in August the number of orders had still increased by 3.5%. One reason for this reduction is demand from …
Fees of German consultants up by 3 percent 6. November 2008 by Thomas Jannot A survey carried out by the Association of German Consultants (BDU) among approximately 950 consultants revealed that daily fees received by consultants in Germany increased by on average 3% as compared to the year 2007. The survey also showed that only 10% of turnover by consultants is generated by remuneration components which are result-oriented. Clients, …
Rate of unemployment at 7.5% in Eurozone 5. November 2008 by Thomas Jannot In the Eurozone (EZ15) the unemployment rate amounted to 7.5% in September 2008 which is the same percentage as in August 2008. In September 2007 the rate was 7.3%. In the EU27 unemployment amounted to 7.0% following 6.9% in August this year and 7.0% in September 2007.