RaboResearch - Economic Research

Economic Update Dutch version

Economic Update Germany

GDP growth in 2010 was strongest since unification thanks to strong exports and investment. The export outlook has become far less certain. Consumption shows no sign of revival as nominal wage growth remains subdued. Inflationary pressures are building amid sharp rebound in commodity prices, the country’s strong economic conditions and the ultra loose monetary policy stance of the ECB.

Economic Comment

Demystifying the German labour market

The astonishing resilience of the German labour market has caught everyone by surprise. But this is mostly due to the government’s short-shift scheme and creative statistics. The question is, therefore, will the labour market deteriorate in 2010?

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Waar blijft ZorbaSave? (Dutch)

Onlangs was de Griekse premier op bezoek bij bondskanselier Merkel. De Grieken hebben niet om financiële steun gevraagd en op die niet-gestelde vraag hoefde Merkel niet te antwoorden. Wel willen de Duitsers een Europees Monetair Fonds oprichten.

Economic Comment

Germany no longer the exportweltmeister

China has taken over Germany as the world’s export champion. But this is indeed a positive development for Germany and the government should actively pursue policies to rebalance the economy even more towards domestic demand.

Economic Comment

Germany's 09Q4 growth can disappoint

Germany’s economy has contracted by a record 5.0% y-o-y in 2009. Quarterly growth in 09Q4 should be flat. However, the business surveys and the orders data suggest that economy has expanded moderately in 09Q4.