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Germany unemployment rate from 2014-2019

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Germany unemployment rate from 2014-2019

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Unemployment rate at its highest at the second quarter of 2019, rising up to more than 60,000 people who are out of work.

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-Cost-push inflation
-Reasons for inflation:
1.The U.S.-China trade War, which causes Germany's production output and overall GDP to fall, with its economic growth rate projected to be very weak.
2.Brexit.

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German Unemployment rises as economy ends with a whimper (MAIN ARTICLE)

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German Unemployment rises as economy ends with a whimper (MAIN ARTICLE)

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German factories suffered their worst downturn in a decade last year as the U.S.-China trade war and Brexit heightened exporters’ concerns, and automakers struggled with the transition to electric vehicles. Projections show that domestic demand will increasingly be hurt by a weakening labor market.

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Labour Force Participation Rate - 61.6%
Unemployment Rate - 3.1%
Employed - 45191,000
Unemployed - 2227,000
Total Pop - 82.85 million

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Germany Employment Rate | 1992-2020 Data | 2021-2023 Forecast | Historical | Chart

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Employment Rate in Germany increased to 76.70 percent in the fourth quarter of 2020 from 76.10 percent in the third quarter of 2020. Employment Rate in Germany averaged 69.69 percent from 1992 until 2020, reaching an all time high of 77 percent in the third quarter of 2019 and a record low of 63.60 percent in the second quarter of 1997.

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Europe's largest economy may have fallen into recession, according to Germany's central bank.

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Europe's largest economy may have fallen into recession, according to Germany's central bank.

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Germany's economy may have fallen into recession, the country's central bank said.

"Economic output could have decreased slightly in the third quarter of 2019," after contracting 0.1% in the three months to June, the Bundesbank said in its monthly report.

The bank said "the leading indicators currently show few signs of a sustained recovery in the export economy and stabilization in the industrial sector."

The German economy has been hammered by the trade war and Brexit, with exports slowing markedly.

View Business Insider's homepage for more stories.

Europe's largest economy may have fallen into recession, according to Germany's central bank.

"German economic output could have decreased slightly in the third quarter of 2019," the Bundesbank said in its monthly report. If it did, Germany will have contracted for two consecutive quarters - it shrank by 0.1% in the three months to June - meaning it's officially in recession.

The potential decline was "mainly due to the fact that the export-oriented industry continued to weaken," the bank said. Exports have been hit especially hard by factors such as Brexit and the trade war.

The German economy - which is much more dependent on exports than others - has suffered as a result of dropping demand from both the US and China due to increased protectionism. Uncertainty within the UK due to Brexit has also dampened demand.

The Bundesbank downplayed its worrying statement by saying, "A recession in the sense of a clear, broad-based and sustained decline in economic management with under-utilized capacity has not yet been apparent."

Germany's particularly large industrial sector contracted over the two months to August, the bank said, and intermediate and consumer good production "fell sharply."

Sentiment among German manufacturers dropped to a decade low last month, according to IHS Markit data. Brexit was "paralyzing" car orders and the nation was "seeing the worst performance from the sector since the depths of the financial crisis in 2009," Phil Smith, principal economist at IHS Markit, said at the time.

The Bundesbank said automotive production, one of the biggest sectors of German manufacturing, declined 1.5% between the second and third quarters.

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Germany's economy may have already slumped into recession, its central bank says | Markets Insider

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Germany's economy may have fallen into recession, the country's central bank said. "Economic output could have decreased slightly in the third quarter of 2019," after contracting 0.1% in the three months to June, the Bundesbank said in its monthly report.

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Germany's quarterly GDP growth from 2015-2019

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Germany's quarterly GDP growth from 2015-2019

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Germany's economy shrank in the second quarter.
GDP for second quarter dropped to -0.1% which is a drastic decrease from the 0.4% growth in the first three months of the year, trade war took a toll on its manufacturers.

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-Consolidate info
-More demographics and proper analysis of data
-Demographic of the population of Germany
-East and West Germany; Germany as a whole (unemployment in total)
-Decide whether decline or recession.
-Make sure that there is a flow when written
-Gather information and statistics.
-Take note of dates/years.
-Find inflation articles and information (CPI)
-Reasons for inflation, inferred.
-Inflation rate slowing down (?)
-People facing joblessness, GDP not doing well.

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In Germany, the most important categories in the consumer price index are Housing, water, electricity, gas & other fuels (32 percent of the total weight), Transport (13 percent), Recreation, entertainment & culture (11 percent)

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Germany Consumer Price Index (CPI)

In Germany, the most important categories in the consumer price index are Housing, water, electricity, gas & other fuels (32 percent of the total weight), Transport (13 percent), Recreation, entertainment & culture (11 percent) and Food & non-alcoholic beverages (10 percent). The index also includes Miscellaneous goods & services (7 percent), Furniture, lighting equipment, appliances & other household equipment (5 percent), Restaurant & accommodation services (5 percent), Health (5 percent) and Clothing & footwear (5 percent). The remaining 7 percent of the index is composed by Alcoholic beverages & tobacco, Communication and Education. . This page provides the latest reported value for - Germany Consumer Price Index (CPI) - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Germany Consumer Price Index (CPI) - actual data, historical chart and calendar of releases - was last updated on November of 2019.

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Consumer Price Index CPI in Germany decreased to 105.30 Index Points in November from 106.10 Index Points in October of 2019. Consumer Price Index CPI in Germany averaged 61.28 Index Points from 1950 until 2019, reaching an all time high of 107 Index Points in July of 2014 and a record low of 20.50 Index Points in July of 1950.

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Demographics of the German population (extra information!)

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Demographics of the German population (extra information!)

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0-14 years: 12.83%

15-24 years: 9.98%

25-54 years: 39.87%

55-64 years: 14.96%

65 years and over: 22.36%

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We need to decide as a group to confirm whether Germany is facing Disinflation/Inflation, recession or just decline so that our report will flow and not contradict. And also finalize whether Germany is facing a recession or not.

GDP, Inflation & Unemployment are connected.

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German inflation eases, joblessness rises as economy sputters (MAIN ARTICLE)

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German inflation eases, joblessness rises as economy sputters (MAIN ARTICLE)

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BERLIN (Reuters) - German inflation slowed in August and unemployment rose, data showed on Thursday, adding to signs that Europe's largest economy is running out of steam and cementing expectations of a new European Central Bank stimulus package next month.

Consumer prices, harmonized with inflation data from other European Union countries (HICP), rose 1.0% year-on-year after an increase of 1.1% in July, the Federal Statistics Office said.

The August reading undershot a Reuters forecast for 1.2%, was the lowest level since November 2016, and marked a fourth month running well below the ECB's target of close to but below 2% for the euro zone as a whole.

Separate German Labour Office data showed seasonally adjusted unemployment rose 4,000 on the month in August, eroding a pillar of growth that has helped support an economy whose traditionally powerful export engine is sputtering and that could well slip into recession in the current quarter.

With its sales abroad hit by a worsening trade climate, a global economic slowdown and an increasingly chaotic run-up to Brexit, the bulk of Germany's growth momentum is been generated domestically - a dependency that leaves it exposed to any weakening of the jobs market.

"All of this only means that the protection shield against the industrial slowdown and external woes is getting thinner if not wearing out," ING economist Carsten Brzeski said of the rise in unemployment.

With its inflation target seemingly as distant as ever, the ECB has all but promised a stimulus package for its Sept. 12 policy meeting, and investors are already pricing in several rate cuts for the coming year and another round of bond purchases.

Thursday's German inflation data will have done nothing to water down those expectations.

On the month, EU-harmonized prices fell by 0.1% after an increase of 0.4% in July. The market had expected an unchanged reading. The national inflation figure (CPI) eased to 1.4% year-on-year from 1.7%, mainly due to a slower rise in energy prices.

Germany's preliminary consumer price data does not include a figure for core inflation, which excludes the more volatile energy and food prices. Commerzbank economist Marco Wagner said that reading probably fell to 1.4% from 1.6%.

He said underlying inflation should pick up in the longer term as, despite the "current economic soft patch" employment was enjoying a boom and wages, by German standards, were continuing to rise substantially.

So companies would struggle to avoid passing some of their rising costs on to consumers sooner or later, he added.

ECB Vice President Luis de Guindos said on Tuesday the bank must be critical of market expectations for its future policy moves, basing its decision on economic data rather than financial market prices.

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monetary / fiscal policy / policy makers

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German inflation eases, joblessness rises as economy sputters

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BERLIN (Reuters) - German inflation slowed in August and unemployment rose, data showed on Thursday, adding to signs that Europe's largest economy is running out of steam and cementing expectations of a new European Central Bank stimulus package next month.

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Germany Teeters on Recession, But It’s Not All Bad News

+ economists views on the economy

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Germany economy in decline but not in recession

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Germany economy in decline but not in recession

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BERLIN, Nov. 6 (Xinhua) -- The upswing in Germany's economy would have "come to an end" but a "widespread and deep recession" was still unlikely, the prominent German Council of Economic Experts said in its annual report published on Wednesday.

Germany's gross domestic product (GDP) is expected to grow by 0.5 percent in 2019, the report said, adding that in 2020, Germany's GDP is set to increase by 0.9 percent. Last year, Germany's economy had grown by 1.5 percent.

The Council was largely on par with the economic forecast of the German government, which is also expecting a GDP growth of 0.5 percent for 2019, while in 2020, GDP is anticipated by the German government to grow by 1.0 percent.

The "weak economic momentum" is expected to persist "into next year at least", noted the council, adding that an "escalation" of international trade conflicts would hit the export-oriented German economy especially hard.

An "important reason" for the continuing downturn would be the "transnational weakness" in manufacturing which would be "partly due to a cyclical downturn accompanied by a decline in corporate investment", according to the report.

For the development of Germany's economy, it would be "crucial to what extent the still solid labor market as well as domestic demand will be affected" by the weakness in the manufacturing sector, the council further noted.

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German economy in decline but not in recession: council

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BERLIN, Nov. 6 (Xinhua) -- The upswing in Germany's economy would have "come to an end" but a "widespread and deep recession" was still unlikely, the prominent German Council of Economic Experts said in its annual report published on Wednesday.

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German economy slips back into negative growth

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German economy slips back into negative growth

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Germany's economy shrank during the April-to-June period of this year.

A decline in exports dampened growth, according to official data, which comes amid concerns of a global slowdown.

Gross domestic product (GDP) fell by 0.1% compared with the previous quarter, according to the Federal Statistics Office.

That takes the annual growth rate down to 0.4%. Germany, Europe's largest economy, narrowly avoided a recession last year.

Early signs for the third quarter "look ominous", said Andrew Kenningham, chief Europe economist at Capital Economics. "Manufacturing business surveys for July were all gloomy.

"And while the services sector should continue to hold up better, there are some signs that the slump is spreading to the labour market."

Trade war woes

While the overall figures were negative, household and government expenditure increased, as did investment outside the construction sector.

Construction itself fell after an unusually good first three months, boosted by a mild winter.

But Chancellor Angela Merkel's government still believes the economy will grow slightly this year and does not think further stimulus is necessary.

"As the chancellor has already laid out, the government does not currently see any need for further measures to stabilise the economy - the fiscal policy of the German government is already expansive," a government spokeswoman said.

Economy Minister Peter Altmaier said Germany was not in a recession and could avoid one by taking the right measures.

Analysis: Andrew Walker, economics correspondent

This is the downside of being an exporting powerhouse. When the international economic environment clouds over, you get rained on.

The German statistical office hasn't given a detailed breakdown, but they have confirmed that exports declined and did so by more than imports.

China is at the centre of the trade storms and it's also an important export market for Germany. So trade held the economy back, in contrast with consumer spending and investment in Germany which both rose.

The economy contracted back in the third quarter of last year, and the subsequent rebound was not all that powerful.

Looking ahead, one question is whether Germany will see another decline in the current quarter, which would make it a recession as the term is often defined.

Some recent surveys of business confidence have been decidedly downbeat so the "R" word is certainly a possibility.

That said, Germany could still avoid it, and even if not, the country would at least be going into recession with unemployment that is among the lowest in the world.

"The development of foreign trade slowed down economic growth because exports recorded a stronger quarter-on-quarter decrease than imports," the statistics office said.

The US-China trade war and the UK's departure from the EU, especially if it happens without a deal, are among factors affecting global economic confidence.

Last month, the International Monetary Fund cut its growth forecasts for the global economy for this year and next, citing US-China tariffs, US car tariffs and no-deal Brexit.

China's own economic slowdown has weakened demand for foreign goods. It is an important market for Germany, since it buys plenty of luxury cars.

Only the much larger economies of the US and China export more goods than Germany.

The results may make authorities consider more monetary stimulus, said Neil Wilson, chief market analyst for Markets.com.

Meanwhile, the European Central Bank has hinted it could cut interest rates to tackle a slowdown in the eurozone economy.

The ECB said last month that a weak manufacturing sector and uncertainty over Brexit and trade threatened to derail growth. It forecast rates at current or lower levels until mid-2020.

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German economy slips back into negative growth

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Germany's economy shrank during the April-to-June period of this year. A decline in exports dampened growth, according to official data, which comes amid concerns of a global slowdown. Gross domestic product (GDP) fell by 0.1% compared with the previous quarter, according to the Federal Statistics Office.

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By Balazs Koranyi

FRANKFURT, Nov 8 (Reuters) - It was meant to be a fleeting slowdown for Europe's economic powerhouse, followed by a rapid rebound.

Instead, Germany has been stuck in neutral for a year with hopes fading for a turnaround, a situation that threatens to spread lasting economic gloom across Europe.

Its vast industry is in recession, a victim of shifting consumer trends, China's economic rebalancing, and a global trade war. Investment spending is shrinking, sentiment is souring, job creation has stalled and productivity growth looks to have turned negative.

Compounding the pain, what was thought to be an unfortunate coincidence of one-off factors has turned out to denote deeper structural problems that will keep Germany, and by extension, the 19-member euro zone, weak well into the next decade.

Exhibit A will be Thursday's release of third-quarter growth data, which is expected to confirm fears that Germany is in recession. Whether the actual figure is minus 0.1%, as a Reuters poll indicates, or merely shows a flat outcome, does not change the bigger picture.

"Germany is likely to remain in a zone between modest positive growth and slight GDP declines," Commerzbank economist Jörg Krämer said. "Once the downturn is over, however, there is unlikely to be a strong economic recovery ... the German export industry will suffer for a long time to come."

STRUCTURAL FLAWS

Germany's independent Council of Economic Experts delivered a similarly grim message just days ago: the good old days are over and it's time to reform.

Germany is slow to adopt new technology, investment is weak and barriers to starting new businesses are too high, said the five-person Council, whose members include Isabel Schnabel, soon to be a member of the European Central Bank's Executive Board.

Its rapidly ageing population helps keep productivity growth weak: because the labour market is shrinking and skilled workers are hard to come by, firms hoard labour even during downturns for fear they will struggle to hire during the rebound.

Banks are of little help to the economy either. They operate with the highest costs in the euro zone and their combined return on equity in the second quarter was zero.

This is a problem because banks restrict lending when the economy slows to save capital, exacerbating any recession. And with earnings already weak, they are unlikely to support the economy.

"Banks' low profitability poses risks to financial stability, because it hampers the build-up of equity and provides incentives to take excessive risks," the Council said.

Stimulus would appear timely given this environment but little more is likely to come.

The ECB has already done almost all it could to lower borrowing costs. Indeed, the Bundesbank estimates the German state saved 368 billion euros in borrowing costs in the 10 years to the start of this year.

The government could use those savings to boost spending as it has one of the lowest debt levels in Europe. But in a country obsessed with running a balanced budget, meaningful fiscal stimulus is politically unacceptable.

Berlin has long resisted calls for a big spending boost, arguing that an ageing population requires savings and that firepower must be preserved for a real crisis.

A surge in infrastructure investment would be problematic, anyway, as the construction sector is running at capacity, so it would struggle to absorb the extra cash.

Such a grim outlook does not automatically translate into economic gloom for others, and data on Friday showing German exports posted their biggest rise in almost two years in September offers a glimmer of light. But Germany is the top trading partner for most EU countries with value chains reaching well beyond borders.

Indeed, when the European Commission slashed its 2020 growth forecasts for Germany earlier this week, it also cut its projections for most EU countries.

As the Commission put it, the bloc is at a crossroads: it could enter a recession, muddle through with a protracted period of low growth or find a way to rebound, seen now as the least likely outcome.

The eventual direction depends very much on Germany.

POWELL, TRUMP

Besides German GDP data, U.S. President Donald Trump's decision on car import tariffs will also be in focus.

Having already reached a deal with several major importers, the decision is essentially about whether to impose additional duties on cars from the EU, analysts say.

Any increase in car tariffs is likely to trigger immediate retaliation by Brussels, leading to a further escalation of a global trade war.

U.S. Federal Reserve Chair Jerome Powell is also likely to make headlines when he testifies to Congress on the U.S. economy on Wednesday.

Having cut rates for the third time this year just days ago, Powell is unlikely to deviate from his recent message, which suggested a pause in any further easing.

Powell said the Fed would stay put as long as incoming information about the economy was consistent with its outlook, a signal taken by markets to mean that the Fed, much like the ECB, would be on hold for some time to come.

(Editing by Catherine Evans)

(( Balazs.Koranyi@thomsonreuters.com; +49 69 7565 1244; Reuters Messaging: balazs.koranyi.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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GLOBAL ECONOMY-Germany's economic pain is here to stay

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It was meant to be a fleeting slowdown for Europe's economic powerhouse, followed by a rapid rebound. Instead, Germany has been stuck in neutral for a year with hopes fading for a turnaround, a situation that threatens to spread lasting economic gloom across Europe.

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The difference in unemployment rates in East Germany and West Germany decreases, and GDP per capita in West Germany is higher than the East

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The fall of the Berlin Wall 30 years ago this week brought far-reaching social and economic changes to communist East Germany, and people on both sides of the former barrier say the changes that have occurred since 1989 have had a positive influence on living standards in their country, according to a recent Pew Research Center survey. But that does not mean the former East and West Germany are on equal economic footing today.

Despite substantial improvements in recent decades, the former East Germany continues to trail the former West Germany on important economic measures ranging from unemployment to productivity, according to an annual German government report on the "status of German unity." (The most recent version of the report, from September, is available here in German. The 2018 version of the report is available here in English.)
See also: How the attitudes of West and East Germans compare, 30 years after fall of Berlin Wall
Here is a look at how economic conditions in the former East and West Germany have changed over time, how they compare today and how people in the two areas perceive these differences. All findings are based on data from the German government's 2019 report, as well as the Center's recent survey.

Unemployment is persistently higher in the former East Germany than in the former West. In 2018, the average unemployment rate was 6.9% in the six states of the former East Germany, compared with 4.8% in the 10 states of the former West Germany. (In all economic statistics in this analysis, Berlin is counted in East Germany, even though the city was divided during communism and is not directly comparable to other parts of East Germany.)

East-West differences in unemployment rates cut across demographic lines including age and gender. Among people ages 15 to 24, for example, the average unemployment rate in the former East Germany was 7.7% in 2018, compared with 4.1% in the former West. And while 7.5% of East Germans ages 55 to 64 were unemployed in 2018, the share was 5.3% among West Germans in the same age range.

Despite these differences, the former East has narrowed the gap with the former West substantially in recent decades. In the early 2000s, the unemployment rate was about 10 percentage points higher in the former East than in the former West - nearly five times the gap in 2018.

People in the former East Germany earn less than their counterparts in the former West. Total compensation, gross wages and salaries, and disposable (or after-tax) income have long been lower in the former East Germany than in the former West, according to the government's report.

In 2017, the most recent year for which data is available, per-capita disposable income was €19,909 per year in the former East Germany - the equivalent of about $22,500 based on the average euro-to-dollar exchange rate that year. By comparison, disposable income in the former West Germany was €23,283 a year, or about $26,300.

Put another way, people in the former East Germany earned 86% the after-tax income of their West German counterparts in 2017. That percentage has changed little in recent years, but is far higher than in 1991, when per-capita disposable income in the former East was only 61% of that in the former West.

The former East Germany trails the former West in productivity. The former East has a much smaller population than the former West (about 16 million people, compared with about 67 million), but its productivity is also lower when adjusted for population differences. Per-capita gross domestic product was €32,108 in the former East German states in 2018, compared with €42,971 in the former West German states. Productivity in the East, in other words, was 75% of productivity in the West on a per-capita basis.

Five of the six states in the former East Germany - with the exception of the city-state of Berlin - had lower per-capita productivity in 2018 than the West German state with the lowest per-capita productivity, Schleswig-Holstein.

The government's report points to several possible factors for the worse economic conditions in East Germany, including the lack of major companies headquartered there.

"Today, not a single east German company is listed on the DAX-30, the nation's leading stock exchange index," the report notes. "And almost no major companies have their headquarters in East Germany. Many East German businesses are part of western German or foreign corporations."

While its per-capita productivity remains lower than that of West Germany, the former East Germany has made major gains since unification. In 1991, per-capita productivity in the former East was less than half (43%) of productivity in the former West.

Germans in both areas say living standards in the former East have not yet caught up with those in the former West. Around three-quarters of people in the former East Germany (74%) and around two-thirds of those in the former West (66%) say the East still has not achieved the same living standards as the West, according to the Center's recent survey, which was conducted among representative samples of adults in both areas as part of a larger study of Europe.

People in the former East Germany are also less optimistic than their counterparts in the former West on a variety of measures, including whether children today will grow up to be better off financially than their parents. In the former East, 42% of adults say the next generation will be better off, compared with 50% in the West who say this.

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East Germany has narrowed economic gap with West Germany since fall of communism, but still lags

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The fall of the Berlin Wall 30 years ago this week brought far-reaching social and economic changes to communist East Germany, and people on both sides of the former barrier say the changes that have occurred since 1989 have had a positive influence on living standards in their country, according to a recent Pew Research Center survey.

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Germany unveils $60 billion plan to fight the Germany unveils $60 Billion plan to fight the climate crisis

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Germany unveils $60 billion plan to fight the Germany unveils $60 Billion plan to fight the climate crisis

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germany unveils $60 billion climate crisis plan - cnn

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Germany unveils $60 billion plan to fight the climate crisis

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Germany unveiled a 54 billion euros ($60 billion) package over the next four years to speed up the country's transition to renewable energy and reduce carbon emissions.

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GDP for the three months ended June contracted 0.1% compared to the previous quarter,  German economy shrinks - Sheryl (MAIN ARTICLE)

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GDP for the three months ended June contracted 0.1% compared to the previous quarter,  German economy shrinks - Sheryl (MAIN ARTICLE)

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german economy: gdp shrinks in the second quarter as trade slows - cnn

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German economy shrinks as 'golden decade' comes to an end

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Germany's economy shrank in the second quarter as global uncertainty and the trade war took a toll on its manufacturers.

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Our chosen country is Germany. Please share some links to news articles dated after 1st August 2019 to start discussion.

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Germany suffering from economic recession and its GDP and production levels are projected to fall (has some good infor and statistics - Swee Hao

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Production of capital and intermediate goods have dropped sharply and are now back to levels last seen at the start of 2017. The news follows the EU's own financial forecasts predicting Britain's economy is set to grow faster than Germany in the immediate years after Brexit.

Overall industrial production in Germany has fallen to 0.6 percent compared to August, according to the the Federal Statistics Office.

The decline means industrial production has now fallen 4.3 percent in the space of a year, adding to widespread concerns that the country will dip into recession in the third quarter.

The Financial Times reports Germany has suffered a 1 percent decline in industrial production in the third quarter, wiping 0.25 percent off overall growth boosted from the more volatile energy and construction sectors.

Andrew Kenningham at Capital Economics told the paper he expected it would continue "well into the next year".

He said: "The decline in industrial production in September confirms that German manufacturers are still firmly in a recession."
READ MORE: Britain to batter EU after Brexit:Brussels ADMITS UK will beat Germans
Despite mass predictions of economic downturn after leaving the EU, Britain's GDP is predicted to remain stable for this year, 2020 and 2021.

This year's GDP is forecast to grow by 1.3 percent, 1.4 percent in 2020 and 2021, which is up 0.1 percent on previous estimations.

The European Commission's Autumn 2019 Economic Outlook says the UK's economy "remains resilient but modest and is forecast to grow at a broadly stable pace over the forecast horizon".

The report added: "The resilience of GDP growth this year has been driven by domestic demand.

"Private consumption growth has been supported by a strong increase in real wages, reflecting a tight labour market, and an expansionary fiscal policy."

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The decline in Germany's prized automotive industry has been blamed for having a profound impact as the global economy faces its sharpest slump since the financial crisis.

According to the International Monetary Fund, the slump in car production may be responsible for up to a third of the slowdown in global trade growth between 2017 and 2018.

The German economy contracted by 0.1 percent in the second quarter, as Europe's economic powerhouse teeters on the brink of recession.

Market uncertainty, driven by Brexit, has seen German trade with the UK fall by more than £6.9 billion in the last three years, according to Alexander Borsch, chief economist at Deloitte.

Recent data has suggested continued weakness in manufacturing in the third quarter, which could put the country in recession - generally defined as two straight quarters of contraction.

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Germany recession panic: Merkel economy panic as production plummets

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GERMANY has seen yet another fall in industrial production, adding to fears the country could be headed for its first recession in six years. Europe's largest economy has been stalling since the summer and if it falls into recession, the rest of the EU countries will also struggle.

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Trade Wars cause Germany's production output and overall GDP to fall, its economic growth rate projected/forecasted to be very weak - Swee Hao

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[FRANKFURT] Germany's economy shrank in the second quarter, piling pressure on Chancellor Angela Merkel to unleash fiscal stimulus as manufacturers reel from a US-China trade war.

Output fell 0.1 per cent from the previous three months, in line with forecasts, as exports slumped. The economy has contracted in two of the last four quarters. Merkel said Tuesday the country was heading into a "difficult phase" and even hinted her reluctance to respond is softening.

The contraction in Europe's largest economy is weighing heavily on a region struggling to sustain momentum. Growth slowed in most euro-area countries including France and Spain, Italy is teetering on the verge of recession, and profit warnings from some of the bloc's biggest companies suggest little sign of a turnaround.

The latest downbeat economic numbers come a day after Henkel AG issued a profit warning that summed up Germany's woes. The industrial firm is facing pressure on two fronts, a slowdown in the auto industry and weaker demand in China, the same environment that's crippled manufacturing across the country.

US President Donald Trump on Tuesday delayed the imposition of some new tariffs on Beijing by three months to December, buoying markets. However, there was further bad news from China, the world's second-largest economy, on Wednesday, with cooling retail sales and the slowest growth in industrial output since 2002.

In Germany, sentiment among executives and investors has plunged, suggesting a government forecast for growth of 0.5 per cent this year, the weakest since 2013, might still be too optimistic.

The European Central Bank has already all but committed to hand out fresh stimulus to jump-start the economy and is forecast to cut interest rates as early as September. All that has helped push yields on German debt to record lows below zero. Earlier this month, the euro fell to the softest since mid-2017.

ECB President Mario Draghi has been among the chorus of international voices pleading with Germany to loosen the purse strings after running surpluses over the past half decade.

German industry has been mired in a slump as worsening trade woes and weaker global growth sap demand for machinery and cars. Industrial production suffered its biggest drop in a decade in June, and freight volumes at German airports saw the steepest decline since 2012.

Among the casualties is Siemens, which said earlier this month it would struggle to meet financial goals because of a deteriorating economy and heightened political uncertainty. Automotive supplier Rheinmetall also lowered its outlook, scrapping expectations for a "tangible" recovery in the coming months.

BLOOMBERG

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German economy contracts as trade tensions take toll on industry

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FRANKFURT] Germany's economy shrank in the second quarter, piling pressure on Chancellor Angela Merkel to unleash fiscal stimulus as manufacturers reel from a US-China trade war. Output fell 0.1 per cent from the previous three months, in line with forecasts, as exports slumped. The economy has contracted in two of the last four quarters.