As Germany's Bundesbank reported overnight, in its latest current monthly report that was widely ignored due to the blanket media coverage of events in the Ukraine, if not so much in Gaza, "Germany's economy may have stagnated in 2Q."
Who is to blame? Why the ongoing Ukraine conflict of course, and more specifically, the western response to it. As Deutsche Welle reported,
"the institution said in a monthly report released Monday that second-quarter growth in Germany had likely slipped due to turbulence in Ukraine and Iraq and a number of public holidays which led to shorter work weeks."More from Bloomberg:
- "Economic growth in Germany markedly lost momentum in the first two months of spring," the Bundesbank says in its monthly report.
- "Activity in the construction industry declined, as expected, from very high levels in the winter that were bolstered by mild weather"
- Says manufacturing activity declined, partly due to geopolitical tensions and timing of public holidays
- "Considering that the services industry probably kept expanding, seasonally and workday-adjusted gross domestic product in the second quarter may have remained at the level of the first quarter."
If nothing else, it certainly provides some context about the topic of conversation of this World Cup picture taken one week ago.
Reader Comments
to our Newsletter