Tag #German Economy

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elpais.com

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Feb 18, 10:09

Crailsheim's Economic Resilience Amidst German Recession

The thriving economy of Crailsheim, Germany, driven by family-owned global market leaders, contrasts with Germany's wider economic recession; concerns remain about future government policies and support for Ukraine.

Crailsheim's Economic Resilience Amidst German Recession

The thriving economy of Crailsheim, Germany, driven by family-owned global market leaders, contrasts with Germany's wider economic recession; concerns remain about future government policies and support for Ukraine.

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Decent Work and Economic Growth

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How do the economic experiences of Crailsheim and its businesses contrast with Germany's current recession, and what specific impacts are evident?

The German city of Crailsheim, in Baden-Württemberg, exemplifies a resilient regional economy driven by small and medium-sized enterprises (SMEs), many of which are globally leading "Hidden Champions". Despite Germany's economic downturn, companies like Groninger, a family-owned manufacturer of pharmaceutical and cosmetic machinery, report strong order books and continued expansion, employing over 1600 people and planning further growth.

faz.net

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Feb 18, 16:10

Continental Cuts 3000 R&D Jobs Amid Restructuring

Continental, a German automotive supplier, announced it will cut 3000 jobs in its Automotive division's global R&D by the end of 2024 to improve competitiveness and reduce R&D costs, part of a broader restructuring plan ahead of a planned spin-off of the division.

Continental Cuts 3000 R&D Jobs Amid Restructuring

Continental, a German automotive supplier, announced it will cut 3000 jobs in its Automotive division's global R&D by the end of 2024 to improve competitiveness and reduce R&D costs, part of a broader restructuring plan ahead of a planned spin-off of the division.

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What are the immediate consequences of Continental's decision to cut 3000 R&D jobs, and how will this impact its global competitiveness?

Continental, a German automotive supplier, announced another restructuring plan, cutting 3000 jobs in its Automotive division's global R&D by the end of 2024. This represents about 10 percent of its R&D workforce and aims to reduce R&D costs as a percentage of sales to below 10 percent by 2025, down from the current 12 percent. The majority of these cuts will not be in Germany.

dw.com

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Feb 17, 10:13

German Auto Industry Faces Crisis Amidst Policy Uncertainty

Germany's automotive industry, a major global player, is facing an economic crisis due to inconsistent government policies on electric vehicles, high energy costs, and slow technological adaptation, leading to uncertainty before the February 23rd election.

German Auto Industry Faces Crisis Amidst Policy Uncertainty

Germany's automotive industry, a major global player, is facing an economic crisis due to inconsistent government policies on electric vehicles, high energy costs, and slow technological adaptation, leading to uncertainty before the February 23rd election.

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Industry, Innovation, and Infrastructure

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What immediate impacts did the German government's inconsistent electric vehicle policies have on the automotive industry?

The German automotive industry, a pillar of the German economy, suffered significant damage due to a recent economic crisis. Pre-election, industry representatives hope for policy changes after blaming the recently dissolved three-party coalition for the crisis. The government's fluctuating electric vehicle incentives deeply impacted the sector, causing consumer uncertainty and industry distress.

sueddeutsche.de

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Feb 16, 10:10

German Wealth Record Masks Widespread Savings Gap

In Germany, total household wealth reached a record €9.004 trillion in Q3 2024, yet 23.5% of households reported zero savings, mainly due to low income and high living costs. This contrasts with 70.7% reporting savings, primarily driven by economic uncertainty.

German Wealth Record Masks Widespread Savings Gap

In Germany, total household wealth reached a record €9.004 trillion in Q3 2024, yet 23.5% of households reported zero savings, mainly due to low income and high living costs. This contrasts with 70.7% reporting savings, primarily driven by economic uncertainty.

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Reduced Inequality

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What factors contribute to the increasing number of German households without savings, and how do these relate to broader economic trends?

The increase in overall German household wealth masks substantial inequality. While 70.7% of respondents reported savings—a record high—a considerable minority lacks financial security. This 'precautionary saving', driven by economic uncertainty (71.9% cite this reason), doesn't reflect broadly improved financial health, but rather anxiety about future hardship.

welt.de

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Feb 16, 13:07

German Household Wealth at Record High, Yet Significant Portion Lack Savings

A recent ING survey reveals that while German household wealth reached a record high of €9.004 trillion in Q3 2024, 23.5% of households lack savings, primarily due to low income and rising living costs; however, this number is down from over 30% five years prior.

German Household Wealth at Record High, Yet Significant Portion Lack Savings

A recent ING survey reveals that while German household wealth reached a record high of €9.004 trillion in Q3 2024, 23.5% of households lack savings, primarily due to low income and rising living costs; however, this number is down from over 30% five years prior.

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Reduced Inequality

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How does the reported increase in households with savings relate to broader economic trends and uncertainties in Germany?

The rise in overall wealth contrasts sharply with the significant portion of households lacking readily available savings. This suggests wealth inequality, with a large portion of the total wealth likely concentrated among a smaller percentage of households. The increase in those with savings is primarily driven by precautionary saving due to economic uncertainty, rather than improved financial conditions across the board.

dw.com

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Feb 14, 16:10

Germany's Budget Crisis: Debt Brake Under Scrutiny

Germany's 2025 budget is in crisis due to a €25 billion shortfall, causing the collapse of the previous coalition government. Disagreements on increasing debt versus cutting social spending, coupled with increased military spending and slow economic growth, highlight the limitations of Germany's "de...

Germany's Budget Crisis: Debt Brake Under Scrutiny

Germany's 2025 budget is in crisis due to a €25 billion shortfall, causing the collapse of the previous coalition government. Disagreements on increasing debt versus cutting social spending, coupled with increased military spending and slow economic growth, highlight the limitations of Germany's "de...

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Reduced Inequality

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How does Germany's "debt brake" constrain government spending, and what are the arguments for and against modifying this rule?

The core disagreement centers on Germany's "debt brake," a constitutional rule limiting borrowing to 0.35% of GDP. While the CDU/CSU and FDP want to maintain this limit, prioritizing savings and economic growth, the SPD and Greens advocate for amending it to accommodate increased spending needs, citing the examples of other major economies with higher debt levels.

zeit.de

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Feb 18, 13:10

German Poverty Risk Falls, Low-Wage Sector Shrinks: DIW Study

A recent DIW study shows that despite initial wage losses (1995-2012), German real wages rose 18 percent overall by 2022, with lower income groups gaining most; this is despite recent inflation-induced losses.

German Poverty Risk Falls, Low-Wage Sector Shrinks: DIW Study

A recent DIW study shows that despite initial wage losses (1995-2012), German real wages rose 18 percent overall by 2022, with lower income groups gaining most; this is despite recent inflation-induced losses.

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No Poverty

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How did government policies and union actions influence wage growth and income inequality in Germany from 1995 to 2022?

The study, using data from the Federal Statistical Office and the Socio-Economic Panel, shows a positive trend in wages and the labor market. Lower income groups, which experienced significant real wage losses (over 25 percent between 1995-2005) initially, saw substantial gains after 2013, closing the income gap. Factors like the 2015 minimum wage and stronger union advocacy for lower earners contributed to this.

politico.eu

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Feb 17, 07:09

German Unemployment Set to Hit 3 Million Amidst Industrial Crisis

Germany's unemployment is surging, projected to hit 3 million by mid-year due to an industrial crisis, job cuts in the automotive sector, and a skills gap, masking the true extent of job losses with increased early retirement and Kurzarbeit schemes.

German Unemployment Set to Hit 3 Million Amidst Industrial Crisis

Germany's unemployment is surging, projected to hit 3 million by mid-year due to an industrial crisis, job cuts in the automotive sector, and a skills gap, masking the true extent of job losses with increased early retirement and Kurzarbeit schemes.

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Decent Work and Economic Growth

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What is the immediate impact of the industrial crisis and skills gap on German employment, and what is the projected unemployment rate by mid-year?

Germany's unemployment rate, currently at 6.2 percent, is projected to reach 3 million by mid-year, a level unseen in a decade. This surge follows widespread job cuts in the automotive sector and other industries, impacting smaller businesses reliant on manufacturing giants. The Ifo institute's employment barometer reveals that almost all German industrial branches intend to reduce their workforce.", A2="The current crisis stems from a confluence of factors including the loss of cheap energy, intensified competition from China, and structural weaknesses exacerbated by the collapse of the 'traffic light' government. Increased use of early retirement schemes and Kurzarbeit (short-time work) masks the true extent of job losses, with preliminary estimates indicating 293,000 employees receiving Kurzarbeit benefits in November 2024. This situation is further complicated by a widening skills gap and a lack of new vacancies.", A3="The extension of Kurzarbeit, while intended to aid companies, might prolong the life of unsustainable jobs, hindering workforce reallocation to more viable sectors. The rising number of corporate bankruptcies (up 25 percent in 2024) and a monthly loss of 10,000 industrial jobs point to a deeper, more structural economic malaise. The upcoming election and formation of a new government may bring some stability, though experts predict high unemployment for at least the next decade.", Q1="What is the immediate impact of the industrial crisis and skills gap on German employment, and what is the projected unemployment rate by mid-year?", Q2="How do early retirement schemes and Kurzarbeit affect the official unemployment figures, and what are the underlying causes of Germany's economic downturn?", Q3="What are the long-term implications of Germany's current economic challenges, and how might the upcoming election influence the trajectory of unemployment?", ShortDescription="Germany's unemployment is surging, projected to hit 3 million by mid-year due to an industrial crisis, job cuts in the automotive sector, and a skills gap, masking the true extent of job losses with increased early retirement and Kurzarbeit schemes.", ShortTitle="German Unemployment Set to Hit 3 Million Amidst Industrial Crisis"))

es.euronews.com

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Feb 17, 16:07

German Election Debate Highlights Ukraine, Economy, and US Tensions

The final German chancellor debate saw disagreements on Ukraine, with CDU's Merz supporting stronger action, while AfD's Weidel favored peace talks. Economic woes were debated, with Merz and Weidel blaming green energy, and Habeck highlighting Russia's role. A post-debate poll showed Merz as the lik...

German Election Debate Highlights Ukraine, Economy, and US Tensions

The final German chancellor debate saw disagreements on Ukraine, with CDU's Merz supporting stronger action, while AfD's Weidel favored peace talks. Economic woes were debated, with Merz and Weidel blaming green energy, and Habeck highlighting Russia's role. A post-debate poll showed Merz as the lik...

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Peace, Justice, and Strong Institutions

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How do the differing perspectives on Germany's economic challenges reflect underlying disagreements about energy policy and the role of government intervention?

Germany's struggling economy, marked by two years of low growth, was a central theme. Candidates debated the causes—from the closure of nuclear plants (Merz, Weidel) to reliance on Russian gas (Habeck)—and proposed solutions such as bureaucratic reform (Merz) and investment in infrastructure (Habeck). The US VP's comments on European democracies further complicated the international landscape.

welt.de

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Feb 16, 10:10

German Wealth Inequality: Record High National Wealth Masks Widespread Savings Shortages

A recent ING survey reveals that while Germany's private household wealth reached a record €9.004 trillion in Q3 2024, 23.5% of 1,000 respondents reported having no readily available savings, primarily due to low income and increased living costs; this is down from over 30% five years prior.

German Wealth Inequality: Record High National Wealth Masks Widespread Savings Shortages

A recent ING survey reveals that while Germany's private household wealth reached a record €9.004 trillion in Q3 2024, 23.5% of 1,000 respondents reported having no readily available savings, primarily due to low income and increased living costs; this is down from over 30% five years prior.

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Reduced Inequality

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How do the reported saving motives of German households reflect broader economic anxieties and uncertainties?

The significant disparity between overall national wealth and the number of households without savings highlights uneven wealth distribution in Germany. While 70.7% of respondents reported having savings, primarily driven by precautionary motives due to economic uncertainty, a substantial portion remains financially vulnerable. This suggests that economic growth hasn't benefited all segments of the population equally.

welt.de

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Feb 14, 13:11

\"Germany Faces Longest Post-War Recession Amidst Employment Contradictions\"\

Germany's economy is projected to shrink by 0.5 percent in 2025, marking the longest recession since WWII, driven primarily by domestic policy concerns rather than geopolitical issues; unemployment stands at 6.3 percent, despite over a million unfilled job openings, while the manufacturing sector ha...

\"Germany Faces Longest Post-War Recession Amidst Employment Contradictions\"\

Germany's economy is projected to shrink by 0.5 percent in 2025, marking the longest recession since WWII, driven primarily by domestic policy concerns rather than geopolitical issues; unemployment stands at 6.3 percent, despite over a million unfilled job openings, while the manufacturing sector ha...

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Decent Work and Economic Growth

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What are the immediate consequences of Germany's projected economic decline in 2025, and how does it compare to previous economic downturns in the post-war era?

Germany's economic performance is projected to decline for the third consecutive year in 2025, marking the longest period of weakness since World War II, with the DIHK forecasting a 0.5 percent decrease. This downturn is primarily attributed to domestic economic policy, rather than geopolitical factors, as 60 percent of companies cite unfavorable economic conditions as their biggest business risk.

welt.de

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Feb 13, 10:10

Commerzbank to Cut 3,900 Jobs to Boost Profit, Resist Takeover

Commerzbank announced plans to cut 3,900 jobs by 2027, primarily in Germany, to boost efficiency and counter a potential takeover bid from UniCredit, while aiming for significantly higher profits and shareholder payouts in coming years.

Commerzbank to Cut 3,900 Jobs to Boost Profit, Resist Takeover

Commerzbank announced plans to cut 3,900 jobs by 2027, primarily in Germany, to boost efficiency and counter a potential takeover bid from UniCredit, while aiming for significantly higher profits and shareholder payouts in coming years.

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What is Commerzbank's immediate response to UniCredit's potential takeover bid, and what are the specific consequences?

Commerzbank, Germany's second-largest private bank, plans to cut 3,900 full-time jobs by the end of 2027 to increase efficiency and counter a potential takeover bid from UniCredit. This will primarily affect its headquarters and other locations in Frankfurt, impacting support functions and back-office roles. The bank aims to maintain its overall workforce of 36,700 through growth in international locations and its Polish subsidiary.

Showing 325 to 336 of 525 results