German PMI data slumped to its lowest levels since the financial crisis showcasing the growing problems at the heart of the country's economy.
US and European stock markets fell after a survey of German manufacturers delivered its lowest reading since the financial crisis.
France's PMI data also fell as demand for exports tumbled amid yellow-vest protests and turmoil during the Algerian elections.Stocks tumbled on Friday after a closely watched survey of German manufacturers delivered its lowest reading since the financial crisis. The"alarming slide remains driven by a steady deterioration in new orders which fell at their quickest rate since 2012 thanks to persistent weakness in the auto sector and delayed decision making — probably in part due to Brexit uncertainty — among many clients." said Claus Vistesen, chief Eurozone economist at Pantheon Macroeconomics.
The country is being battered by numerous external and internal factors, including the ongoing slump in global manufacturing, continued trade tensions between the US and China, stuttering demand for Germany's key export, cars, andHe anticipates further proof of a manufacturing recession in first-quarter industrial production reports.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
What has the German Islam Conference achieved so far?The German government has shown a new level of engagement with Muslims, but calls for a ‘German Islam’ and mosque taxes raise questions about Germany’s future plan for the Muslim minority, and what role the German Islam Conference will play.
Weiterlesen »
VW’s newish boss is going full-steam ahead with electric carsAnd picking a fight with the German carmaker’s powerful unions
Weiterlesen »
German 10-year yields dive below zero to two and a half year lows as growth fears roil marketsGerman 10-year bond yields crashed briefly below zero while European shares and ...
Weiterlesen »
German conservatives eye compromise in EU row with Hungary, Orban defiantGermany's conservatives proposed that the EU's center-right grouping s...
Weiterlesen »
German politicians split over bankrolling Deutsche Bank mergerA dispute is unfolding between the two political parties that govern Germany, as plans develop on a merger between Deutsche Bank and Commerzbank
Weiterlesen »
Viewsroom: German bank M&A’s questionable logicListen: Putting Deutsche and Commerz together might create a national banking champion, but a more likely outcome would be a poorly performing behemoth, CGAThompson explains in this week's Viewsroom.
Weiterlesen »
Tesla Model 3 European Sales Threaten More German ProfitsTesla has been feasting on the profits of the big German carmakers’ European luxury portfolio with its Model S sedan and Model X SUV, but its assault on Europe is about to hit high gear as sales of the smaller all-electric Tesla Model 3 get underway here.
Weiterlesen »
Franco-German startup Doctolib gets unicorn status with 150 million-euro fundraisingFranco-German start-up Doctolib, an online booking platform for doctors, has rai...
Weiterlesen »
German foreign minister open to one last push for orderly BrexitDelaying Britain's departure from the European Union is justifiable if ther...
Weiterlesen »