Dr. Rimoon AGAIBY’s Post

Experts are predicting lower growth in the #German #economy Germany's GDP (gross domestic product) is likely to grow by just 0.7% in 2024, down from a previous forecast of 0.9%, the Institute for Economic Research (Ifo), a Munich-based economic think tank said today. Ifo revised its mid-December estimate in view of the drastic cuts in the German government's 2024 budget amid a funding shortfall. Last year, Europe's largest economy shrank by 0.3% 🇩🇪. #GDP #europeeconomy #lowgrowth https://lnkd.in/ejh8iVfA?

Germany, home to Europe’s largest economy, faced economic headwinds in 2023 as it contracted by 0.3% year-on-year, according to the Federal Statistical Office. This contraction, in line with analyst predictions, reveals the impact of high inflation and firm interest rates on the country’s growth. Tap the link in our bio to read more. #Germany #Economy #BudgetaryCrisis #GDP #Recession #FinancialNews #EconomicDevelopment #BudgetTrends #Inflation #businessnews

The U.K. economy is now 5% worse off than it would have been had it never left the European Union due to a slump in trade and investment since the #Brexit referendum in June 2016, according to a new study by Goldman Sachs. This slowdown has seen the U.K.’s GDP per capita stagnate since COVID-19, having increased just 4% since the 2016 referendum, compared to an 8% increase in the eurozone and a 15% increase in the U.S., said a team at Goldman led by chief European economist Sven Jari Stehn. At the same time, the U.K. has experienced much higher inflation than in rival advanced economies, with the country’s consumer prices up by 31% since 2016, versus rises of 27% in the U.S. and 24% in the eurozone. https://lnkd.in/dTkKEn-Y

🇱🇺 📈 In its economic forecasts for winter 2024, the European Commission forecast activity rebounding in #Luxembourg this year. With +1.3% growth in 2024 and +2.1% in 2025, Luxembourg is doing better than the EU and the eurozone. The same applies to #inflation. #economy #growth #forecast https://lnkd.in/dUJQBqyk

Headlines 24/11: German economy shrinks as economic pressures pile up The German economy shrank by 0.1% in the third quarter, confirming the initial estimate released in October, as Europe’s largest economy continues to struggle against economic headwinds, including higher interest rates, high energy costs and weak global demand. Consumer spending, which accounts for two-thirds of GDP was 0.3% lower than the previous quarter. The figures come as the German government struggle with a court ruling that threw its budget into disarray and is causing major uncertainty amongst investors. The Riksbank held their interest rates steady at 4% yesterday, not raising the rate for the first time since February 2022. The Swedish central bank kept a hawkish tone in their comments, saying that while inflation, which had peaked at 10%, was now moving in the correct direction, they were prepared to hike again in their next meeting in January 2024 if it remained too high. A coalition agreement has been sealed between three New Zealand parties, after protracted negotiations over ministerial roles and future government priorities and policies. The new government confirmed they will amend the aims of the Reserve Bank of New Zealand to remove the dual mandate on inflation and employment, to solely focus on price stability. Emerging Markets: The agreed upon ceasefire in Gaza between Israel and Hamas started this morning, and appeared to be holding, with no major bombings or rocket strikes being reported, though both sides have been accused of violations. The first group of 13 Hamas hostages are expected to be released later today, and aid trucks have started entering the enclave from the Egyptian crossing. Following a request from the World Health Organisation (WHO), Chinese health authorities have confirmed that they have not detected any unusual or novel pathogens in reported clusters of pneumonia in children. Clinical information and laboratory results were provided to the WHO and the data suggests the rise in respiratory illness is a result of the lifting of Covid-19 restrictions.   Ecuador’s new president, Daniel Noboa was sworn in yesterday, as he vowed to reduce violence and provide more employment to citizens in a country plagued by intense economic challenges and spiralling crime rates. Noboa is expected to call a state of emergency to allow him to propose legislation to the assembly, as he tries to fulfil his pledges in the 17 months before the next presidential election is due in 2025. Information contained in this publication is compiled from industry sources which we consider to be accurate and reliable at the time of publication. The information provided does not constitute advice and it should not be relied on as such. Crown Agents Bank Ltd accept no liability for the impact of any decisions made based on the information provided in this publication. #inflation #economy #interestrates

German consumer confidence improves, but economic recovery ‘bumpy’ Consumer confidence in Germany improved in May but the country’s economic recovery remains bumpy, with no significant GDP growth expected in Q2, according to the latest reports by research groups on Wednesday. #ICIS #economy #GDP #inflation #GfK #CPI #energy #food #ECB #VCI https://bit.ly/3R33Mcg

Australia’s Economy in the Fourth Quarter: During the fourth quarter, Australia’s economy performed as anticipated. The driving forces behind this growth were robust government and business expenditures, along with consistent exports. These factors helped offset a broader decline in consumer spending. Let’s dive into the details: Gross Domestic Product (GDP): Quarter-on-quarter, GDP increased by 0.2% in the three months leading up to December 31. This reading aligned with expectations and remained steady compared to the prior quarter. Year-on-year, GDP grew by 1.5%, surpassing the expected 1.4% but falling short of the 2.1% growth observed in the previous quarter. Government Spending: Increased government spending played a pivotal role in driving GDP growth. Canberra directed more funds toward household benefits and government employee salaries. However, defense spending declined during this period. Exports: The Australian economy received a boost from exports. Net exports contributed more than anticipated during the fourth quarter. Sustained stimulus measures in China, a major export destination, ensured steady metal exports. Additionally, heightened demand for heating fuels in Asian and European markets further bolstered exports. Challenges: Despite positive trends, challenges persisted. Sluggish consumer spending and a persistently weak housing market weighed on the economy throughout the quarter. Household savings dwindled over the past year, exacerbating the situation. Furthermore, a cooling labor market is expected to add pressure to household finances. Economic Outlook: The recent reading suggests that the Australian economy remains cautious due to high interest rates and lingering inflation concerns. The Reserve Bank of Australia has warned that economic growth will likely remain below trend in the coming years, especially as interest rates remain elevated for an extended period. In summary, Australia’s economic landscape continues to navigate complexities, balancing growth drivers and challenges. The path ahead remains influenced by both domestic and global factors.

ENTIRE GERMANY ECONOMY POISED FOR IRREVERSIBLE STAGNATION WITH AGEING POPULATION WARNS IMF (www.thetimes.co.uk/) The eurozone’s largest economy is heading for stagnation amid a period of rapid population ageing that will place intense strain on the state and public finances, the International Monetary Fund has warned. The IMF said that “unfavourable demographics are projected to slow annual economic growth to around 0.7% over the medium term”, adding that Germany was facing the fastest slowdown in growth of the working-age population of any G7 economy. Germany’s model is built on high-value manufacturing. Its education and financial systems are designed to feed thousands of engineering companies producing cars, robots and the like with the labour and capital they need. The fund said that Olaf Scholz, the German chancellor, should consider indexing retirement ages to increases in life expectancy to reduce state spending on pensions. As Germany’s deteriorating performance shows, manufacturing is no longer the place to be. China’s economic slowdown is one reason. It has reduced demand for the sophisticated machinery that Germany makes, at the same time as reinforcing its leaders’ determination to dominate even more of the world’s manufacturing. Look at the car business: ten years ago, China exported very few cars. Last year, it overtook Germany and then Japan to become the world’s largest exporter. Look at clean energy. Two decades ago, Germany was the world’s leading exporter of solar panels. Now China has four-fifths of the market. #kentbusiness #kentinvictachamber https://lnkd.in/eKX6J_Xr

"Britain will suffer some of the lowest rates of economic growth and highest inflation among Group of Seven countries this year and next, forecasts from the Organisation of Economic Co-operation and Development suggested on Thursday. The OECD cut this year's growth forecast for the British economy to 0.4% from the 0.7% it predicted in February. Only Germany is expected to perform worse among G7 advanced economies, which also include Canada, France, Italy, Japan and the United States. UK growth in 2025 is expected to recover to just 1.0%, compared with the OECD's previous forecast of 1.2%, putting Britain at the bottom of the G7. The OECD forecasts showed Britain's annual rate of consumer price growth was likely to be the highest among G7 countries, both this year and next." However, we can depend on our desperate Orwellian style Government to tell us otherwise! All is well. Work harder and carry on!

ENTIRE GERMANY ECONOMY POISED FOR IRREVERSIBLE STAGNATION WITH AGEING POPULATION WARNS IMF (www.thetimes.co.uk/) The eurozone’s largest economy is heading for stagnation amid a period of rapid population ageing that will place intense strain on the state and public finances, the International Monetary Fund has warned. The IMF said that “unfavourable demographics are projected to slow annual economic growth to around 0.7% over the medium term”, adding that Germany was facing the fastest slowdown in growth of the working-age population of any G7 economy. Germany’s model is built on high-value manufacturing. Its education and financial systems are designed to feed thousands of engineering companies producing cars, robots and the like with the labour and capital they need. The fund said that Olaf Scholz, the German chancellor, should consider indexing retirement ages to increases in life expectancy to reduce state spending on pensions. As Germany’s deteriorating performance shows, manufacturing is no longer the place to be. China’s economic slowdown is one reason. It has reduced demand for the sophisticated machinery that Germany makes, at the same time as reinforcing its leaders’ determination to dominate even more of the world’s manufacturing. Look at the car business: ten years ago, China exported very few cars. Last year, it overtook Germany and then Japan to become the world’s largest exporter. Look at clean energy. Two decades ago, Germany was the world’s leading exporter of solar panels. Now China has four-fifths of the market. #kentbusiness #kentinvictachamber https://lnkd.in/eKX6J_Xr