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Economy

Big drop in German consumer confidence beats hopes of economic growth

A key survey shows Germans preparing to tighten their belts rather than boost private consumption, the sector which provides half of the GDP in Europe's biggest economy.

Economy

Germany business morale worsens further: Is competitiveness at risk?

German business confidence fell sharply in November, with the Ifo Index hitting its second-worst level since January. Rising costs, energy prices, and structural issues are eroding industrial competitiveness, while private sector activity hit a nine-month low.

Economy

Modest growth in the German economy helps it avoid a recession

Europe's biggest economy expanded by 0.1% in the third quarter, revised down from the first estimate of a 0.2% rise.

Business

European hotspots for AI: These are the leading countries in 2024

Germany has shown a huge improvement this year in a new ranking for the best hotspots for AI startups. Even so, Europe's strongest economy still falls short of the top spot.

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Economy

German producer prices stay subdued as energy prices heat up

The producer price index, which looks at the average change in selling prices that domestic producers get for their services and goods, was down for the 16th month in a row.

Business

Thyssenkrupp's steel division sees valuation slump

The unit has suffered from rocky economic conditions, fierce competition from Asian manufacturers, and a pressure to decarbonise.

Economy

How could Europe's biggest economy lose out under Trump's plans?

The German economy, already in decline, could be about to lose 1% of GDP due to the trade tariffs, promised by US President-Elect Donald Trump.

Business

IG Metall agrees wage deal for German auto and engineering workers

The deal, watched by the European Central Bank for its effect on inflation, comes at a tough time for Europe's biggest economy.

Business

Thousands of jobs to go at German car parts maker Schaeffler

The company is downsizing at 10 locations in Germany and five other sites in Europe, further illustrating the challenges facing the European car industry.

Business

Volkswagen's earnings disappoint as shares plunge to 24-year low

Volkswagen’s third-quarter earnings missed expectations, pushing shares to a 24-year low. Europe’s biggest automaker faces rising costs, restructuring expenses, and slowing demand, particularly in China. Challenges in the EV market and regulatory pressures are straining profitability.

Economy

Switching to EVs could cost German car industry 186,000 jobs by 2035

EV car production requires fewer employees overall than in the past, according to new report findings.

Economy

German consumer climate reaches 18-month high as income optimism rises

Germany's consumer confidence inched upwards in October, marking its most optimistic point since April 2022, though challenges continue to weigh on sentiment.

Business

Tesla gets go-ahead for controversial factory expansion in Germany

The US electric car maker has plans to build the biggest car plant in the country, manufacturing one million cars annually.

Economy

Germany's economic sentiment improves, DAX index hits record highs

October's rise was driven by interest rate cut expectations and export optimism, despite a worsening current outlook. The DAX hit record highs, boosted by falling oil prices and a weakening euro, outperforming other European indices.

Economy

Germany's economic struggles deepen: A back-to-back recession looms

Germany's economic downturn deepens with a projected contraction in 2024, marking its second consecutive year of decline. Manufacturing struggles and global competition, especially from China, highlight structural issues. Growth is expected to return in 2025.

Travel News

From buses to trains: Flix expands its operations in Germany

FlixTrains’ decision to move further into the rail industry means Germany will soon have a more accessible train network.

Business

Thyssenkrupp is reviewing plans for manufacturing 'green steel'

Thyssenkrupp is revisiting its ambitious plan to produce green steel at its Duisburg site due to escalating costs. The German government has spent billions of Euros subsidising the project.

Economy

Eurozone: August retail sales rise, but Germany's factory orders sink

Eurozone retail sales grew 0.2% in August, rebounding from July's flat reading, while Germany's factory orders plunged 5.8%, marking their worst decline since January. The euro slipped below $1.10 on the news.

Economy

German inflation plunges to over three-year low as energy prices wane

German inflation fell for the second month in a row in September, as energy prices pulled back. However, food prices rose at a faster pace.

Economy

German unemployment unchanged but signals weak performance

The German labour market usually picks up in September after the summer, but unemployment decreased much less than usual this month.