FOREX TradingCharts.com

Financial News: Bundesbank Sees Rising Risk Of German Economy Slipping

Bundesbank Sees Rising Risk Of German Economy Slipping Into Recession

09/19/2022 - 09:20:00 (RTTNews)

(RTTNews) - There are increasing signs that the German economy is slipping into a recession, Bundesbank said in its monthly report released Monday.

Real gross domestic product is likely to decline somewhat in the current quarter and shrink significantly in the winter months, the central bank said.

The bank cited the extremely tense situation in the energy supply after the war in Ukraine as the major reason for the current weakness.

"The high inflation and the uncertainty regarding the energy supply and its costs affect not only the gas and electricity-intensive industry and its export business and investments, but also private consumption and the service providers dependent on it," experts at Bundesbank said.

Experts forecast a noticeable decline in economic output in the fourth quarter and also in the first quarter of next year. The outlook is extremely uncertain, the bank noted.

Despite the deterioration in the economic outlook, the bank expects the labor market to remain resilient.

On the price front, experts said with the expiry of the nine-euro ticket and the tank discount on September 1, there were price jumps for petrol and diesel. This would lead to renewed price increases for energy and services in the current month and a corresponding increase in the inflation rate.

Inflation is forecast to move into the double digits in the next few months, Bundesbank added.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Ireland Jobless Rate Remains Stable In September (06 hr(s), 45 min(s), 56 sec(s) ago)
(RTTNews) - Ireland's unemployment rate held steady in September, after rising slightly in the ...Full Story»

Brazil Industrial Production Falls As Expected (07 hr(s), 02 min(s), 56 sec(s) ago)
(RTTNews) - Brazil's industrial production declined as expected in August after rebounding in ...Full Story»

U.S. Services Index Indicates Slightly Slower Growth In September (07 hr(s), 08 min(s), 56 sec(s) ago)
(RTTNews) - The Institute for Supply Management released a report on Wednesday showing a modest sl ...Full Story»

U.S. Trade Deficit Narrows To Smallest In Over A Year In August (07 hr(s), 22 min(s), 56 sec(s) ago)
(RTTNews) - With the value of imports showing a notable decrease, the Commerce Department released ...Full Story»

Philippines Inflation Highest In 4 Years (07 hr(s), 24 min(s), 56 sec(s) ago)
(RTTNews) - The Philippines' inflation increased to the highest level in four years, mainly le ...Full Story»

U.S. Private Sector Job Growth Slightly Exceeds Estimates In September (07 hr(s), 28 min(s), 56 sec(s) ago)
(RTTNews) - Private sector employment in the U.S. increased by slightly more than expected in the ...Full Story»

Brazil Services Growth At 16-Month Low (07 hr(s), 32 min(s), 56 sec(s) ago)
(RTTNews) - Brazil's service sector activity expanded at the weakest pace in the current 16-mo ...Full Story»

UK Car Registrations Rise For Second Month: SMMT (08 hr(s), 10 min(s), 56 sec(s) ago)
(RTTNews) - UK car registrations increased for the second straight month in September, data from t ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Ireland Jobless Rate Remains Stable In September

10/05/2022 - 10:58 AM (RTTNews)
(RTTNews) - Ireland's unemployment rate held steady in September, after rising slightly in the ...Full Story>>

Brazil Industrial Production Falls As Expected

10/05/2022 - 10:41 AM (RTTNews)
(RTTNews) - Brazil's industrial production declined as expected in August after rebounding in ...Full Story>>

U.S. Services Index Indicates Slightly Slower Growth In September

10/05/2022 - 10:35 AM (RTTNews)
(RTTNews) - The Institute for Supply Management released a report on Wednesday showing a modest sl ...Full Story>>

U.S. Trade Deficit Narrows To Smallest In Over A Year In August

10/05/2022 - 10:21 AM (RTTNews)
(RTTNews) - With the value of imports showing a notable decrease, the Commerce Department released ...Full Story>>

Philippines Inflation Highest In 4 Years

10/05/2022 - 10:19 AM (RTTNews)
(RTTNews) - The Philippines' inflation increased to the highest level in four years, mainly le ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.