The European Central Bank (ECB) responded to macroeconomic pressures and the eurozone economy’s weak outlook by cutting benchmark interest rates by 10 basis points. Concluding the monetary-policy meeting in Frankfurt last month, the governing council announced a reduction in interest rates on the deposit facility
Industrial production in Germany fell by a bigger-than-expected 1.5 percent month-on-month in June 2019, after the escalating trade war between the United States and China triggered a negative impact on the country’s exports.
The ongoing US-China trade conflict took an ugly turn in May after the United States imposed sanctions on the world’s biggest supplier of telecom equipment and smartphones, China’s Huawei Technologies, cutting the company off from all of its trading partners in the US and barring US companies from supplying components without government approval.
Germany’s seasonally adjusted retail-sales figure surged 3.3 percent month-on-month in January to its highest level since October 2016, rebounding sharply from a downwardly revised -3.1 percent in December, according to the Federal Statistical Office of Germany.
The Ifo Business Climate Index for Germany jumped to a six-month high of 103.8 in August, after climbing by 2.1 points from the previous month’s survey.
A grand tax scandal has come to light in the German banking sector. The scandal, said by some to be the largest in Germany since the beginning of the post-war period, involves an international group of stockbrokers, bankers and lawyers