DER SPIEGEL Germany’s economy is growing at a snail’s pace.
Companies in Germany that rely on exports are becoming increasingly concerned about the future of the country’s economy, according to a new industry survey. The downturn in optimism is yet another indication that Europe may be in for a period of extended stagnation.
In April, Germany’s central bank, the Bundesbank, was optimistic. Springtime would bring a rapid recovery from the winter blues and an increase in investment, it said. “Business activity expectations for the German economy have recovered quickly and strikingly in the last three months,” the Bundesbank wrote in its report.
The bank’s optimism, however, may have been a touch premature. German exporters are becoming more pessimistic as the spring progresses. On Thursday, the Association of German Chambers of Commerce and Industry (DIHK) released the results of a survey showing that companies dependent on exports are much less optimistic than a short time ago. While 30 percent still expect overseas turnover to rise, one in eight believe it will fall.
“Exports are likely to develop less dynamically in the coming months,” the DIHK writes in the report, which is based on survey of 25,000 companies.
The new report comes at a time when many are forecasting an extended period of stagnation for the euro-zone economy. Last week, the European Union statistics office released growth numbers for the first quarter of this year indicating that nine of 17 member-states of the common currency zone are now in recession, with the zone as a whole shrinking by 0.2 percent in the first three months of this year. Germany’s economy, while showing growth, is hardy robust, expanding by a mere 0.1 percent from January to March. With several bloc economies mired in debt and economy malaise, the future is murky.
‘Dangers of Half-Measures’
Mark Carney, outgoing Bank of Canada governor, who is heading across the Atlantic to become head of the Bank of England on July 1, became the latest Cassandra earlier this week. In his final speech as Canadian central bank chief, Carney said of Europe: “Deep challenges persist in its financial system. Without sustained and significant reforms, a decade of stagnation threatens.” He added that: “Europe can draw lessons from Japan on the dangers of half measures.”
The DIHK on Thursday also lowered its own expectations for German economic growth, sinking its prognoses for the entire year from 0.7 percent to a paltry 0.3 percent. “The German recovery has been postponed,” said DIHK head Martin Wansleben in Berlin. In addition to concern about exports, Wansleben also noted the unusually cold late-winter weather in March.
Some 41 percent of German companies that took part in the survey said that weak foreign demand was the primary risk facing their businesses. “The uncertainty hasn’t been this great since 2010,” the DIHK said.
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Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial Investment Real Estate Broker in Arizona now for 15 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial and Landspecialist in Phoenix and a Landspecialist in Arizona.
WHETHER YOU LEASE OR OWN
NOW IS THE TIME FOR YOU TO EXPAND, UPGRADE OR INVEST.
In my opinion we are at bottom of the cycle in Commercial Real Estate in Phoenix, so there is only one way and it’s called we are going up again and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix. The prices on deals I may get you will not be around forever.
IF YOU OR ANYBODY YOU KNOW IS IN TROUBLE WITH YOUR BUSINESS, AS MANY AMERICANS ARE IN THE MOMENT, AND ARE ABOUT TO LOSE YOUR COMMERCIAL PROPERTY, PLEASE CONTACT ME. IF YOUR BANK IS BEHAVING BADLY I MAY BE ABLE TO HELP YOU GET OUT OF SOME OR MAYBE A LOT OF FUTURE HEADACHES.
WAITING TO SELL YOUR LAND ? TIMES CHANGE / IT’S TIME
We barely could give land away the last few years, but times are changing. Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.
Since I was a Land Specialist in Arizona and a Land Speciaost in Phoenix many of my clients, Sellers and Buyers remember me and now they are calling me again, so this is the time to get back into land and none of my clients, including future clients, will miss out on getting their best deal.
Also, if you are up-side down on your land, like many Americans, and the lender is giving you a hard time, now is the time to put your land on the market. Lenders are making deals now with short sales. I have been working with banks for many years – I learned how to work with them.
If you have any questions about the 1 to 3 above, about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us.
Please reply by e-mail firstname.lastname@example.org or call me 520-975-5207 (cell) 602-778-5110 (office direct).
Walter Unger CCIM
Kasten Long Commercial
2821 E. Camelback Road, Suite 600
Phoenix, AZ 85016
Office : 602-445-4141
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