RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2022-10-06 13:05:00

GERMAN ECONOMY DROP

GERMAN ECONOMY DROP

BLOOMBERG - Oct 6, 2022 - German factory orders dropped in August after the previous month was revised to show an increase, hinting at a lack of momentum as the economy stands on the brink of a recession.

Demand fell 2.4% from the previous month. Data for July now show a 1.9% gain, compared with an initially reported drop of 1.1%. The volatility was accounted for by late reporting of large-scale aerospace orders.

“Enterprises still have difficulties completing their orders as supply chains are interrupted because of the war in Ukraine and distortions persist that have been caused by the Covid-19 crisis,” the Federal Statistics Office said in a statement.

Germany is rushing to minimize the impact of surging energy costs after Russia curtailed supplies of natural gas in retaliation for sanctions imposed after its invasion.

Leading research institutes last week slashed their economic outlook, predicting a contraction of 0.4% in 2023 due to the crisis. This year and next, output will be €160 billion ($158 billion) lower than forecast five months ago.

Inflation, meanwhile, is running above 10% for the first time since the euro was introduced more than two decades ago, presenting an increasing burden on companies and households that the European Central Bank is seeking to counter by raising interest rates. 

 

-----


Earlier:

GERMAN ECONOMY DROP
2022, September, 29, 13:45:00
GERMAN NUCLEAR RESERVE
According to agreement, the two plants are to be transferred to an operational reserve after the end of their regular service life on 31 December in order to prevent an impending power grid bottleneck in southern Germany.
GERMAN ECONOMY DROP
2022, September, 22, 16:25:00
GERMANY NATIONALIZE ENERGY
Germany has unveiled an €8bn package, which comes in addition to prior bailout packages, with the objective to finance and acquire Uniper, as well as help it maintain operations, amid unstable gas supplies and soaring energy prices.
GERMAN ECONOMY DROP
2022, September, 22, 16:20:00
GERMANY'S LNG TERMINAL
Deutsche ReGas has started building a 4.5 bcm/year LNG import terminal, named Deutsche Ostee, in Lubmin in the northeast of Germany.
GERMAN ECONOMY DROP
2022, September, 15, 16:20:00
GERMANY WITHOUT RUSSIAN GAS
The risks of shortages drove gas prices higher for a third day. The European Commission this week unveiled radical intervention plan including raising 140 billion euros ($140 billion) for consumers from energy companies’ earnings, mandatory curb on peak power demand and boosting liquidity.
GERMAN ECONOMY DROP
2022, September, 2, 12:45:00
GERMANY ELECTRICITY PRICE DOWN
German year-ahead electricity futures plunged as much as 54% from Monday’s peak above 1,000 euros a megawatt-hour as the European Union considers various measures to intervene in the market to damp runaway energy costs crippling economies across the bloc.
GERMAN ECONOMY DROP
2022, August, 19, 09:00:00
GERMANY'S RECESSION PROSPECTS
“The still high increase in consumer prices and the expected additional costs for heating and electricity are currently having a particularly negative impact on the prospects for the consumer-related sectors of the economy,” said Michael Schröder, a researcher at the ZEW.
GERMAN ECONOMY DROP
2022, August, 4, 10:35:00
GERMAN ENERGY IS EXPENSIVE
The incentive to reduce gas consumption is huge after Putin reduced supplies to Germany via the Nord Steam 1 pipeline. The Dutch TTF gas contract, a European benchmark, is trading above 205 euros ($209) per megawatt hour, 10 times its average in the decade through 2020 and equivalent to about $350 per barrel of oil.
All Publications »
Tags: GERMANY, ENERGY, ECONOMY
Chronicle:
GERMAN ECONOMY DROP
2022, December, 5, 11:34:00
INTERNATIONAL CONGRESS AND EXIBITION TURKEY & BLACK SEA OIL AND GAS
International Congress and Exhibition Turkey & Black Sea Oil and Gas is an international, professional platform, bringing together over 200 C-suite executives from vertically integrated oil companies, general directors, CTOs of oil refineries, gas processing plants and petrochemical facilities, initiators of investment projects on oil and gas extraction from Turkey and countries of the Black Sea area, officials of regulatory authorities, licensors of production technologies and world suppliers for the industry.
GERMAN ECONOMY DROP
2022, December, 5, 11:33:00
TRANSPORTATION OIL AND GAS CONGRESS 2023 (TOGC 2023)
Transportation Oil and Gas Congress 2023 (TOGC 2023) takes place on February 20-21, 2023. The Congress brings together representatives from the whole pipeline chain and focuses on both strategic and technical issues of the oil and gas pipeline transportation.
GERMAN ECONOMY DROP
2022, December, 5, 11:32:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
GERMAN ECONOMY DROP
2022, December, 5, 11:30:00
FOOLISH ENERGY TRANSITION
Many things about the energy transition are foolish and driven not by science, but by feelings or politics.
GERMAN ECONOMY DROP
2022, December, 5, 11:25:00
ENERGY FOR SMART CITIES
The EU is piloting a project called ENVISION. This explores the possibilities of harvesting energy from the surfaces of buildings.
GERMAN ECONOMY DROP
2022, December, 5, 11:20:00
U.S. EMPLOYMENT UP BY 263,000
Total nonfarm payroll employment increased by 263,000 in November, and the unemployment rate was unchanged at 3.7 percent.
GERMAN ECONOMY DROP
2022, December, 5, 11:15:00
WORLDWIDE RIG COUNT DOWN 3 TO 1,890
The Worldwide Rig Count for November was 1,890, down 3 from the 1,893 counted in October 2022,and up 346 from the 1,544 counted in November 2021.
All Publications »