The German government admitted that GDP will only grow by 0.50 % this year, half of what was expected. Possible causes include stagnant exports and a lack of private investment.

The country had a growth forecast of 1%, but this has been overshadowed by external geopolitical conflicts. This was stated by Minister Katherina Reiche during the presentation of her data in Berlin, emphasizing that the war in Iran has led to an increase in energy and raw material prices. “This will place a burden on private households and increase costs for the German economy as a whole,” the minister noted.

For 2027, German GDP is estimated to grow by only 0.9 %, not 1.3 % as previously expected, “in a context of a general weakening economy compounded by an upward revision of the government’s inflation forecast.”

The trend will be upward; consumer prices are expected to rise by 2.7 % this year and 2.8 % next year. “Inflation is primarily limiting private households, which are projected to increase their consumer spending by only 0.4 % after 2026 and 0.5 % in 2027, a significant reason for the weak growth outlook,” Reiche added.

The current scenario in Germany is characterized by a decline in foreign trade, stagnant exports, and a loss of industrial capacity in the face of international competition.

Regarding public consumption, an increase of 2 % is projected for 2026 and 1.3 % next year. “The expansion of energy price subsidies is also contributing to this. At the same time, government demand is driving investment: investment in equipment is projected to increase by 1.1 % this year and 4.4 % next year.”

M.Pino

Source: abc.es

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The UK’s Gross Domestic Product (GDP) for January showed stagnation, according to data from the country’s Office for National Statistics.

Economic growth stagnated even before the start of the conflict in the Middle East. GDP remained at 0%, reflecting a slowdown compared to the 0.1 % growth in December.

Pressure on British Finance Minister Rachel Reeves has been mounting, and analysts indicate that the outlook could worsen due to rising energy prices, “a consequence linked to international tensions following the US and Israeli attacks on Iran on February 28.”

In this regard, the minister stated: “Our economic plan is the right one, although we know there is still much to be done,” referring to initiatives to “reduce the cost of living, decrease the national debt, and create conditions for growth that benefits all regions of the country.”

The economic recovery during January fell short of expectations, resulting in weak growth and fragility in key sectors such as the British labor market.

M.Pino

Source: venezuela-news

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The Mexican Institute of Finance Executives published figures on Monday, December 2, on the country’s economic contraction during the month of November.

According to the private organization, the sectors with the greatest stagnation are manufacturing and services.

“The IMEF Manufacturing indicator increased 1.1 points in November compared to the previous month, to stand at 48.3 units, the eighth consecutive month in a contraction zone, the private organization reported in a statement.”

In contrast, the IMEF Non-Manufacturing indicator increased 1.2 points last month, standing at 50.5 units.

Despite this slight increase compared to the month of October, both indicators continue to be low. The IMEF considers a strong “absence of dynamism and, therefore, of the possibility that the economy closes the year with a moderate expansion.”

Regarding the growth projections for 2025, the Government of Mexico places the local economy between 2.0 and 3.0% “within the economic package that it submitted to Congress for analysis on November 15.”

M.Pino

Source: spanish.news.cn

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The eurozone experienced a slight rebound in its economic growth during the second quarter, after having stagnated in the first three months of the year, although difficulties persist in Germany, according to what was revealed in a first estimate published by Eurostat.

Between the months of April and June, the Gross Domestic Product (GDP) of the 20 countries that share the single currency increased by 0.3 % compared to the previous quarter. It is important to mention that in the first quarter, growth had completely stagnated (+0 %), a figure that has been revised by Eurostat, since a slight decrease of 0.1 % had initially been reported.

In relation to inflation in the euro area, a decline continued to be observed in the month of July, reaching 5.3 % after having reached 5.5 % in June and 6.1 % in May. This decrease has been due to a new decrease in energy prices, according to data announced by Eurostat last Monday.

However, it should be noted that food prices continue to rise at a high rate, with a year-on-year inflation rate of 10.8 %, although this figure represents a slight decrease from the 11.6 % registered in June, according to the European statistical office.

It is important to note that the current inflation rate remains well above the 2 % target set by the European Central Bank (ECB).

K. Tovar

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The president of Fedecámaras, Carlos Fernández, indicated at a press conference on March 1st that the organization’s 79th Annual Assembly will be held from July 20 to 23 in the city of Maracaibo, Zulia state.

The participants will analyze the current situation of the Venezuelan economy, as well as the prospects for recovery for 2023, despite the signs of stagnation and the inflationary crisis.

The call for participants, who will meet at the Tibisay hotel in Maracaibo, also includes the Expo-Fedecámaras 2023. “The participation of businessmen and union leaders from all over Venezuela and invited businessmen from other nations is expected, with the objective of that they invest in the country, that they bring their products back and trade is resumed,” Fernández said.

The “79th Annual Assembly, Road to the Future” will be the meeting point for specialists to analyze the development potential of the country in 2023.

Fernández indicated: “The rentier model has run out, and we have to establish a new economic, productive model that opens all spaces of economic activity to private participation, that favors the generation of more wealth, with a profoundly inclusive vocation.”

The press conference where the announcement was made was also attended by Ezio Angelini, president of Fedecámaras Zulia; the state governor, Manuel Rosales; the mayor of Maracaibo, Rafael Ramírez and the mayor of the San Francisco municipality, Gustavo Fernández.

M.Pino

Source: Hispanopost

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