{"id":132712,"date":"2024-07-31T07:35:27","date_gmt":"2024-07-31T04:35:27","guid":{"rendered":"https:\/\/tietopankki.crnet.fi\/fi\/yleinen\/german-economy-unexpectedly-shrinks-inflation-ticks-higher\/"},"modified":"2024-07-31T07:35:27","modified_gmt":"2024-07-31T04:35:27","slug":"german-economy-unexpectedly-shrinks-inflation-ticks-higher","status":"publish","type":"post","link":"https:\/\/tietopankki.crnet.fi\/fi\/yleinen\/german-economy-unexpectedly-shrinks-inflation-ticks-higher\/","title":{"rendered":"German economy unexpectedly shrinks, inflation ticks higher"},"content":{"rendered":"<div class=\"mp_wrapper\">\n  <div class=\"mepr-unauthorized-message\">\n    <p>You are unauthorized to view this page.<\/p>\n  <\/div>\n  <div class=\"mepr-login-form-wrap\">\n            \n<div class=\"mp_wrapper mp_login_form\">\n                  <!-- mp-login-form-start -->     <form name=\"mepr_loginform\" id=\"mepr_loginform\" class=\"mepr-form\" action=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/\" method=\"post\">\n            <div class=\"mp-form-row mepr_username\">\n        <div class=\"mp-form-label\">\n                              <label for=\"user_login\">Username<\/label>\n        <\/div>\n        <input type=\"text\" name=\"log\" id=\"user_login\" value=\"\" \/>\n      <\/div>\n      <div class=\"mp-form-row mepr_password\">\n        <div class=\"mp-form-label\">\n          <label for=\"user_pass\">Password<\/label>\n          <div class=\"mp-hide-pw\">\n            <input type=\"password\" name=\"pwd\" id=\"user_pass\" value=\"\" \/>\n            <button type=\"button\" class=\"button mp-hide-pw hide-if-no-js\" data-toggle=\"0\" aria-label=\"Show password\">\n              <span class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/span>\n            <\/button>\n          <\/div>\n        <\/div>\n      <\/div>\n            <div>\n        <label><input name=\"rememberme\" type=\"checkbox\" id=\"rememberme\" value=\"forever\" \/> Remember Me<\/label>\n      <\/div>\n      <div class=\"mp-spacer\">&nbsp;<\/div>\n      <div class=\"submit\">\n        <input type=\"submit\" name=\"wp-submit\" id=\"wp-submit\" class=\"button-primary mepr-share-button \" value=\"Log In\" \/>\n        <input type=\"hidden\" name=\"redirect_to\" value=\"\/fi\/wp-json\/wp\/v2\/posts\/132712\" \/>\n        <input type=\"hidden\" name=\"mepr_process_login_form\" value=\"true\" \/>\n        <input type=\"hidden\" name=\"mepr_is_login_page\" value=\"false\" \/>\n      <\/div>\n    <\/form>\n    <div class=\"mp-spacer\">&nbsp;<\/div>\n    <div class=\"mepr-login-actions\">\n        <a\n          href=\"https:\/\/tietopankki.crnet.fi\/fi\/login-2\/?action=forgot_password\"\n          title=\"Click here to reset your password\"\n        >\n          Forgot Password        <\/a>\n    <\/div>\n\n      \n    <!-- mp-login-form-end --> \n  <\/div>\n      <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"smart_content_wrapper\">\nThe German economy unexpectedly contracted in the second quarter after skirting a recession at the beginning of the year and July&#8217;s inflation rose, showing the continuing struggles of the euro zone&#8217;s biggest economy. Germany&#8217;s gross domestic product contracted by 0.1% in the second quarter compared with the previous three-month period, preliminary data from the statistics office showed on Tuesday. Analysts polled by Reuters had forecast a 0.1% quarter-on-quarter increase in adjusted terms, following 0.2% economic growth in the first quarter.<\/p>\n<p>Germany was the worst performing major economy last year, with gross domestic product contracting by 0.3%, and it came close to recession at the start of 2024 &#8211; buffeted by a combination of cyclical and structural headwinds. In the second quarter, Germany was a laggard among its peers again, and the divergence in terms of growth has widened: While the German economy contracted, France and Spain did better than expected and Italy held its ground.<\/p>\n<p>The euro zone&#8217;s economy grew 0.3% in the three months to June, data showed on Tuesday. &#8220;While German data is stagflationary, the eurozone as a whole provides a picture of a relatively solid but potentially fading recovery with sticky inflation,&#8221; said Carsten Brzeski, global head of macro at ING.Also countering expectations, German inflation rose in July to 2.6%, preliminary data from the federal statistics office showed on Tuesday. Wall Street digests earnings and awaits the Fed.<\/p>\n<p>Analysts polled by Reuters had forecast no change to the inflation rate, after consumer prices rose by 2.5% on the year in June, based on data harmonised to compare with other European Union countries. Euro zone inflation figures due on Wednesday will shed light on the case for a rate cut by the European Central Bank in September, with the market expecting one more cut by year-end. In Germany, inflation looks stuck above 2%, analysts say. &#8220;It is this stickiness of inflation that will strengthen the doubts around another rate cut at the September meeting,&#8221; Brzeski said.<\/p>\n<p>Core inflation, which excludes volatile food and energy prices, was at 2.9% in July, unchanged from the previous month. This is primarily due to the continued strong inflation in services, which remained unchanged at 3.9% in July, as prices are still pushed up by high wage increases. &#8220;This is unlikely to change much for the time being, meaning that the core inflation rate will remain well above the ECB&#8217;s target of 2% in the coming months,&#8221; Commerzbank&#8217;s senior economist Ralph Solveen said.<\/p>\n<p>Capital Economics said it still expects another rate cut in the September meeting. &#8220;But it looks likely to be a close call and will depend on the August inflation data,&#8221; said the research firm&#8217;s chief European economist, Andrew Kenningham.<\/p>\n<p>Source:<a rel=\"noopener\" href=\"https:\/\/www.reuters.com\/markets\/europe\/german-economy-unexpectedly-shrank-by-01-second-quarter-2024-07-30\/\"> Reuters<\/a><\/p>\n<\/div>\n<p>The post <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\/yleinen\/german-economy-unexpectedly-shrinks-inflation-ticks-higher\/\">German economy unexpectedly shrinks, inflation ticks higher<\/a> appeared first on <a rel=\"noopener\" href=\"https:\/\/vastuullisuusuutiset.fi\/fi\">Vastuullisuusuutiset.fi<\/a>.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,1],"tags":[555,15500,4464,655],"class_list":["post-132712","post","type-post","status-publish","format-standard","hentry","category-news","category-yleinen","tag-csr-news-en","tag-german-economy","tag-shrink","tag-yleinen"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/132712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/comments?post=132712"}],"version-history":[{"count":0,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/posts\/132712\/revisions"}],"wp:attachment":[{"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/media?parent=132712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/categories?post=132712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tietopankki.crnet.fi\/fi\/wp-json\/wp\/v2\/tags?post=132712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}