The Bundesbank said the German economy, Europe’s largest, probably expanded moderately in the second quarter as construction and services growth offset weaker industrial production.
“According to available indicators, the German economy should have grown at a moderate pace in the spring,” the Frankfurt-based Bundesbank said in its monthly report today. “The outlook for further economic developments is subject to high uncertainty.” (more)
LONDON — A new Source (Sourceforconsulting.com) EMEI report(1), launched this month, has found the consulting market across 11 major markets in Europe, the Middle East and India was worth €26.4 billion in 2011, up just under 4 per cent on the previous year. Levels of growth in emerging markets significantly outperformed those in most mature western consulting markets.
While the levels of growth were highest in the Gulf Cooperation Council (GCC) and Russia (both at around 20 per cent), it was the German market, already the second biggest in the region (behind the UK) which had the most positive impact on the market, growing by just over 7 per cent. (more)
Investment in German real estate reached €6.6 billion in the first half of 2012, according to realtor Cushman and Wakefield.
The total is double that of the first half of 2011 and already exceeds 2011’s full-year total of €6.2 billion. Both Cushman and Wakefield and CBRE expect this year’s total transactions to reach at least €10 billion.
C&W reported that 23 portfolios with over 250 housing units were transacted, falling from 43 in the first half of 2011. However, the number of units transacted rose by 96% to 133,000 – a result of several large transactions. (more)
(Reuters) – German industrial orders unexpectedly rose in May as demand from its euro zone peers picked up, suggesting Europe’s largest economy remains resilient although economists warned greater demand from the single currency bloc would be short-lived.
Seasonally and price-adjusted order intake climbed 0.6 percent on the month, data from the Economy Ministry showed on Thursday, well above the mid-range forecast in a Reuters poll of 37 economists for orders to remain unchanged on the month.
Orders were boosted by a rebound in demand from the euro zone, with contracts in the single currency bloc up 7.7 percent overall due to a number of large orders. (more)
From where he is standing, it is hard to imagine sunnier economic weather. His firm has recently created nearly 3 000 new jobs at home and abroad – where it has been expanding in non-euro zone countries such as Poland and Turkey – and expects sales to rise this year.
“The feeling of looming crisis that people have is still vague, undefined,” said Frobel. “And you see this in their continued willingness to go out and buy.”
Hanover, a bustling industrial and trading hub in northern Germany, is a world away from the recession engulfing Greece, Spain and other parts of Europe. Life, for Germans, is as it should be. Unemployment is at 20-year lows and exports are at record levels. (more)