One person has died and several others were injured in a collision between two commuter trains near Munich, German police said Monday. Munich police said the incident happened shortly before 5 p.m. (1600GMT) at Ebenhausen-Schaeftlarn station, about 10 kilometers (6 miles) south of the Bavarian capital. Police said the cause of the crash was still…
German Exports Rise Again in December, Strong Gains in 2021
BERLIN—German exports increased for the third consecutive month in December, capping a year in which they rose 14 percent compared with 2020, official figures showed Wednesday. The Federal Statistical Office said that exports from Germany, Europe’s biggest economy, were up 0.9 percent in December compared with the previous month. That followed gains of 1.8 percent…
Strong Domestic Demand Boosts German Industrial Orders in December
February 4, 2022
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BERLIN—German industrial orders grew more than expected in December, data showed on Friday, with a boost from stronger domestic demand a cause for optimism for the growth outlook of Europe’s largest economy. Orders for goods grew 2.8 percent on the month in seasonally adjusted terms after a revised increase of 3.6 percent in November, figures…
German Economy Shrank 0.7 Percent in 4th Quarter as COVID-19 Resurged
BERLIN—The German economy shrank by 0.7 percent in last year’s fourth quarter amid a resurgence in coronavirus infections and new restrictions, official figures showed Friday. The quarter-on-quarter decline reported by the Federal Statistical Office followed two quarters of solid gains that came despite persistent supply bottlenecks. Gross domestic product grew 2.8 percent over the whole…
German Economic Growth Expected to Slow Down in 2023
BERLIN—German economic growth will slow down to 2.3 percent in 2023, Economy Minister Robert Habeck said on Friday. The government cut its economic growth forecast for 2022 this month to 3.6 percent from 4.1 percent seen in October. Habeck told the Bundestag lower house of parliament that he expected the economy to reach pre-pandemic levels…
Chinese Hackers Target German Pharma and Tech Firms
BERLIN—Chinese hacker group APT 27, long suspected of launching attacks on Western government agencies, has started targeting German companies in sectors such as pharmaceuticals and technology, Germany’s Federal Office for the Protection of the Constitution (BfV) said on Wednesday. In addition to stealing trade secrets and intellectual property, the hackers may be trying to penetrate…
German Government Cuts 2022 Economic Growth Forecast to 3.6 Percent
BERLIN—The German government on Wednesday cut its growth forecast for this year, but said that Europe’s biggest economy remains “robust” and will return to its pre-pandemic size in 2022. The Economy Ministry predicted that gross domestic product will grow by 3.6 percent, down from the 4.1 percent Germany’s previous government forecast in late October. The…
German Business Confidence Perks Up After 6-month Decline
BERLIN—Business confidence in Germany, Europe’s biggest economy, has picked up unexpectedly after a six-month slide, a closely watched survey showed Tuesday. The Ifo institute said its monthly confidence increased to 95.7 points in January from 94.8 in December. Economists had forecast another slight dip to 94.5. The index was led higher by much-improved expectations for…
JPMorgan Merges EU Operations Into Single German Business
LONDON—American banking giant JPMorgan has merged most of its European Union businesses into a single entity in Germany, it said on Monday, seeking to make its business in the bloc more competitive after Britain’s departure. The bank said it had simplified its European structure by merging its Luxembourg and Irish entities into German business JP…
German Producer Prices Register Record 24.2 Percent Jump in December
January 20, 2022
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BERLIN—German producer prices rose 24.2 percent year on the year in December, with the record annual jump driven by higher energy prices, official data showed on Thursday. The jump from the previous December was the largest year-on-year increase for any month since the Federal Statistics Office began compiling the producer price numbers in 1949, the…
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