Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
GERMAN DATA
MNI (London)
The Bundesbank bi-annual forecasts look for a more muted recovery in the June report.
- German GDP is expected to contract by -0.3% (Dec projection -0.5%) in 2023, then advance by a more softer +1.2% (prev +1.7%) in 2024 and +1.3% (prev +1.4%) in 2025.
- 2023 growth saw a slight upwards revision due to easing energy costs, whilst 2024/2025 have been downgraded due as higher-than-anticipated interest rates dampening growth, especially in housing construction.
- Private consumption is forecasted to contract by -1.5% over 2023, then recover in 2024/2025.
- Demand conditions will be somewhat supported in the near-term by easing inflation, stronger wages and robust labour market dynamics.
- Employment growth is projected to slow markedly in Q2/Q3 as firms dial back job growth. A moderate rise in unemployment is anticipated for the coming months, partly reflecting the influx of refugees. The underlying strength of the labour market is seen as robust.
- Inflation was projected lower, with HICP forecasted to fall from 8.7% in 2022 to 6.0% in 2023 (Dec projection +7.2%), 3.1% in 2024 (prev +4.1%) and 2.7% (prev +2.8%) in 2025. This continues to imply a continued outpacing of the ECB's 2% target over the forecast horizon and follows yesterday's ECB inflation projections for 2023 to 2025 increased by 0.1 percentage point.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok