In the past, there were still recessions in the economy. These were phases of shrinking gross domestic product (GDP) that lasted two, three quarters or a whole year. Rising unemployment and shrinking incomes were practically always the result. And monetary policy always had to lower interest rates and the state had to intervene by increasing its own (debt-financed) spending if it wanted to prevent worse, …
Cross-posted from Brussels Morning (https://brusselsmorning.com)
Last week, the Federal Statistical Office in Germany presented its first estimate for 2020’s gross domestic product (GDP). The statistical service forecasts a decline in economic output during the year of the coronavirus at 5%. In its press releases, …
Das Statistische Bundesamt hat bereits am 15. Januar die ersten Ergebnisse seiner Berechnung des Bruttoinlandsprodukts (BIP) für das Jahr 2019 vorgestellt. Danach ist die deutsche Wirtschaft im vergangenen Jahr um 0,6 Prozent gewachsen. In der vergangenen Woche (am 14. Februar) wurden zudem die Ergebnisse der Berechnung für das vierte Quartal 2019 vorgelegt. …
The German current account surplus: Much larger than officially reported?
It appears the German government is manipulating its trade surplus statistics to avoid increased criticism. While Germans believe a massive trade surplus is a confirmation of national superiority, elsewhere it is termed “beggaring thy neighbour”. …
