Saturday, August 30, 2014   

German growth set for 'noticeable' Q2 slowdown: Bundesbank
(04-28 18:29)

German economic growth is heading for a significant slowdown in the second quarter of 2014 after a robust first three months, the German central bank said on Monday.
"After the extremely strong start to the year, economic growth in Germany is expected to see a noticeable slowdown in the second quarter,'' the Bundesbank said in its latest monthly report.
Growth in industrial orders has not continued with the "same intensity'' as in the first two months of the year, it said.
The mild winter weather conditions of the first quarter of 2014 will also squeeze the rate of growth in gross domestic product in the following three months, it added.
However the "economic underlying trend'' is expected to remain clearly on the up due to the "exceptionally favorable consumption climate and the active demand for home building'', it noted.
Highlighting a first quarter expected to show very strong growth, the central bank pointed to a considerable rise in industrial production after a dynamic fourth quarter in terms of orders last year.
The Bundesbank is penciling in growth of 1.7 percent for 2014 followed by 2.0 percent for 2015.
The German government said this month that Europe's top economy was in the middle of a "solid upturn'', even if concerns about the fallout from the Ukraine crisis are souring investor confidence.
Economy Minister Sigmar Gabriel said that economic growth "is on a broad and stable footing,'' as he predicted that gross domestic product growth would accelerate to 1.8 percent this year and 2.0 percent next year compared with a meager 0.4 percent in 2013. --AFP
   
Other Business breaking news:
Eurozone inflation falls in August (08-29 17:39)
Hang Seng finishes flat (08-29 17:02)
Australia's consumer watchdog sues US games giant Valve (08-29 16:21)
Telsa teams up to build charging outlets (08-29 16:02)
Tesco issues new profit warning (08-29 15:58)
Tsimshatsui plot draws 16 bidders (08-29 15:40)
Wanda plans e-commerce JV with Baidu, Tencent (08-29 14:19)
Nikkei ends lower (08-29 14:18)
German retail sales fall in July (08-29 14:18)
Hang Seng down at lunch (08-29 12:19)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.