RaboResearch - Economic Research

Economic Update

Germany: at least, it is no recession

German GDP-growth was weak in the third quarter. It was mainly driven by domestic consumption, while gross capital formation attributed negatively. Going forward, we expect this picture to remain unchanged.

Economic Update

Germany: Europe’s growth engine faltered

In the second quarter, the German economy shrank by 0.2% q-o-q. Without the negative impact of the warm winter, GDP growth would probably have been positive. Hard data also shows that the German economy had a strong start of the current quarter.

Economic Update

Germany: mild winter dominates the figures

The German economy had a strong start of 2014 growing 0.8% q-o-q. The growth acceleration can partly be attributed to the soft winter that boosted construction activity. Therefore we expect a somewhat lower growth figure for the current quarter.

Economic Update

Germany: die ‘Exportweltmeister’

The German economy posted a solid growth figure in the final quarter of 2013. Unexpectedly, it was almost fully driven by exports. For the current year, we expect German growth to be supported by both exports and domestic demand.