Posted on 01/08/2020 5:10:10 AM PST by Oldeconomybuyer
BERLIN - German industrial orders fell unexpectedly in November on weak foreign demand and a lack of major contracts, data showed on Wednesday, suggesting that a manufacturing slump will continue to curtail growth in Europe’s largest economy.
Germany’s export-dependent manufacturers are struggling with sluggish demand from abroad as well as business uncertainty linked to trade disputes and Britain’s decision to leave the European Union.
“The misery in manufacturing continues,” VP Bank economist Thomas Gitzel said, noting that the military escalation between the United States and Iran was now posing an additional risk for businesses.
Finance Minister Olaf Scholz told reporters in Berlin that the situation in the Middle East had become “very dangerous”. But he added that he did not expect any major consequences for growth, because Germany’s domestic economy remained stable and there were signs the Sino-U.S. trade dispute was easing.
Contracts for German goods decreased by 1.3% from the previous month, posting the steepest drop since July, data from the Economy Ministry showed. That confounded the Reuters consensus forecast for a 0.3% rise.
(Excerpt) Read more at reuters.com ...
At least the Germans are good at balancing the budget, which some FReepers think is the key to economic bliss.
Germany promises to create more and more “benefits” for the poor and retired. At the same time, the world’s economy is changing in ways that will serve to continually reduce Germany’s export income. They are probably already passed the point where they could make a correction away from socialism. The Green party and the other far left parties are in ascendance. Merkel’s “conservative” party kept the leftward motion going to get large ruling majorities. The problem is you can’t give away enough stuff to ever satisfy socialists. So, now real socialists will take over. By-by Germany.
Any industrial economy is going to run into problms when its government wages war on electricity.
The only way to fix things is to import more uneducated Muslims. Germany can spend it’s way to prosperity by increasing unemployment benefits to ‘migrants” and “refugees!”
Germany gets its just rewards.
Who wants their crappy cars anyway. They used to be fairly good and fun to drive, now they’re just over engineered crap needing PHD levels of expertise to diagnose. Germany jumped the shark.
Enjoy your Muslims, heinies!
Are you joking? Want to have a 5 minute conversation with my German ex-wife?
German products carried a reputation for high quality for years.
Arab products carried a ‘scammer’ reputation... for years.
When German workers are replaced with Arab workers....
Feeling some schadenfreude reading this.
Any industrial economy is going to run into problms when its government wages war on electricity.
And more so when windmills are in the far north on the water and the factories mostly in the south.
Just for fun, the NIMBYs in between do not like the power transmission lines.
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