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4 Wednesday, August 14, 2019 04:21

Confidence collapses as slowdown hits Germany

Concerns about the German economy are at their highest level since the peak of the eurozone debt crisis – stoking fresh fears that it is sliding towards recession.Financial markets experts are gloomier about its future than at any point since 2011, according to a survey by the Mannheim-based Zew research institute.

‘The survey gives a further clear warning signal of recession for the German economy,’ said Uwe Burkert, chief economist at LBBW Research.

Business leaders are worried a No Deal Brexit could hit exportsThe nation has been hit hard by a crackdown on global trade under US President Donald Trump, while its prized car making industry has been hammered in a sales slump as customers shun diesel due to pollution fears.

Business leaders are also increasingly nervous about a No Deal Brexit, which they fear could hit exports. RELATED ARTICLES Previous 1 Next
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Interest rate CUT now on the cards, say analysts, as pound... Share this article Share The prospect of a currency war is causing jitters, after China allowed the value of the yuan to drop in a bid to attract more buyers for its goods by making them cheaper.Achim Wambach, president of Zew, said all these factors ‘place additional pressure on the already weak economic growth’.

.Figures due out today could show the German economy shrank in the second quarter of this year.A further quarterly contraction would mean the nation had entered recession.   ..


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