Exchange Rate in Germany
Germany - Exchange RateGDP contracted at the steepest pace in over one decade in Q1 due to Covid-19. Household expenditure was particularly hard hit by the government-imposed restrictive measures, limiting economic activity while unemployment rose on average in the quarter. Exports, meanwhile, contracted at the sharpest rate since the first quarter of 2009. However, worse is expected to come in Q2: Private consumption is forecast to freefall due to restrictive measures and skyrocketing unemployment in April, while millions of workers are on reduced hours. Moreover, the lockdown will be dragging on business activity: Operating conditions worsened through May while external demand looks unlikely to provide support. On the other hand, the gradual lifting of measures and additional fiscal measures of EUR 50–100 billion should provide some respite.
Germany - Exchange Rate Data
|Exchange Rate (vs USD)||-||-||-||-||-|
5 years of economic forecasts for more than 30 economic indicators.
Germany Exchange Rate Chart
Source: Thomson Reuters.
|Bond Yield||-0.19||0.41 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
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July 9, 2020
In May, merchandise exports grew 9.0% month-on-month on a calendar- and seasonally-adjusted basis, swinging from the steep 24.0% contraction in April.
July 7, 2020
Industrial production rose 7.8% calendar-adjusted month-on-month basis in May (April: -17.5% mom).
June 25, 2020
In early June, the German government announced fresh stimulus of EUR 130 billion to kickstart the economy, bringing the total fiscal stimulus up to around EUR 1.2 trillion (roughly equivalent to around 35% of 2019 GDP) which has been unleashed as part of efforts to buttress the economy against fallout from Covid-19. The new stimulus equals around 4% of GDP and encompasses numerous measures, including reducing the tax burden through temporarily lowering VATs until the end of this year, as well as further liquidity and loan support of around EUR 25 billion for SMEs through August, conditional on at least a 60% annual drop in sales in April and May.
June 25, 2020
Consumer confidence is expected to recover further from the Covid-19 shock at the opening of the third quarter; however, sentiment is forecast to remain pessimistic.
June 24, 2020
The business confidence indicator came in at 86.2 in June, up from May's 79.7.