Latest news with #RuthBrand
Fibre2Fashion
16-06-2025
- Business
- Fibre2Fashion
Germany's inflation holds at 2.1% in May, energy prices fall
The inflation rate in Germany, measured as the year-on-year (YoY) change in the consumer price index (CPI), stood at 2.1 per cent in May this year, the same figure as observed in April, according to the Federal Statistical Office (Destatis). It was 2.2 per cent in March and 2.3 per cent in both January and February this year. The inflation rate in Germany, measured as the YoY change in the consumer price index, stood at 2.1 per cent in May this year, the same figure as observed in April, official statistics show. Consumer prices rose by 0.1 per cent month on month in May. The prices of energy products were 4.6 per cent lower YoY in the month. The total prices of goods rose by 0.9 per cent from May 2024 to May 2025. "The inflation rate has stabilised, mainly due to the continued decrease in energy prices", said Destatis president Ruth Brand in a release from the office. 'On the other hand, the rise in food and service prices drove inflation up in May also,' he noted. Consumer prices rose by 0.1 per cent month on month (MoM) in May this year. The prices of energy products were 4.6 per cent lower YoY in May. The price drop was less marked than in the preceding year. Excluding energy prices, the German inflation rate stood at 2.7 per cent in May. The inflation rate excluding food and energy, often referred to as core inflation, was 2.8 per cent in May. Both these rates have exceeded overall inflation for over a year, thereby demonstrating that inflation was above average in other important product groups. The total prices of goods rose by 0.9 per cent from May 2024 to May 2025. In April 2025, the rate of price increase was 0.5 per cent. The prices of non-durable consumer goods were up 1 per cent and durable consumer goods cost 0.7 per cent more in May 2025. Price decreases were recorded not only for energy (minus 4.6 per cent) during the month. Fibre2Fashion News Desk (DS)
The Star
13-06-2025
- Business
- The Star
German inflation steady at 2.1 pct in May
BERLIN, June 13 (Xinhua) -- Germany's inflation rate remained unchanged at 2.1 percent in May, the same as in April, the Federal Statistical Office (Destatis) reported on Friday. Food prices continued to outpace the headline inflation rate, rising 2.8 percent year-on-year. In contrast, energy product prices dropped by 4.6 percent compared to May 2024. Excluding energy, the inflation rate climbed to 2.7 percent, while core inflation -- which excludes both food and energy -- stood slightly higher at 2.8 percent. Both indicators have consistently remained above the overall inflation rate for more than a year, reflecting persistent price pressures in other key sectors, particularly services. "The inflation rate has stabilized, mainly due to the continued decrease in energy prices," said Ruth Brand, president of Destatis. "However, the rise in food and service prices continued to exert upward pressure in May." Despite the current stability, uncertainty surrounding energy prices is increasing, raising concerns about renewed inflationary risks. According to German business daily Handelsblatt, fears have intensified following Israel's military strike on Iran early Friday, which has already triggered a spike in global oil prices. Cyrus de la Rubia, chief economist at Hamburg Commercial Bank, told Handelsblatt that oil prices could surge to 100 U.S. dollars per barrel if geopolitical tensions escalate. "In any case, higher oil prices mean that higher inflationary pressures will return," he said.
Fibre2Fashion
26-05-2025
- Business
- Fibre2Fashion
Germany's Q1 2025 GDP grows 0.4% QoQ, exceeds initial estimate
Germany's gross domestic product (GDP) rose by 0.4 per cent quarter on quarter (QoQ) in the first quarter (Q1) this year after adjustment for price, seasonal and calendar variations, according to the Federal Statistical Office (Destatis). Economic growth in Q1 2025 was, therefore, 0.2 percentage points (pp) higher than communicated in the first release of April 30 this year. Germany's GDP rose by 0.4 per cent quarter on quarter (QoQ) in Q1 2025 after adjustment for price, seasonal and calendar variations. On a price, calendar and seasonally adjusted basis, total exports rose by 3.2 per cent QoQ in Q1 2025; these were down by a price-adjusted 1.1 per cent YoY. Goods exports fell by 1.4 per cent YoY in the quarter. Imports also rose in Q1 2025 by 1.1 per cent. "Growth was slightly higher than predicted in the first estimate due to the surprisingly good economic development seen in March," said Destatis president Ruth Brand in an official release. "In particular, output in manufacturing and exports registered stronger growth than initially assumed," Brand added. The last time GDP growth was higher than the level registered in the Q1 2025 was in the Q3 2022 (plus 0.6 per cent QoQ). On a price, calendar and seasonally adjusted basis, total exports of goods and services rose by 3.2 per cent QoQ in Q1 2025; these were down by a price-adjusted 1.1 per cent YoY in the quarter. Anticipatory effects amid concerns over a brewing trade war with the United States are likely to have contributed to the positive QoQ development. Exports of goods declined by 1.4 per cent YoY in the quarter. Imports also rose at the start of the year, but at 1.1 per cent, the growth in imports was weaker than that in exports. After registering a decline for four consecutive quarters, Germany's gross value added (GVA) on the whole was up 0.6 per cent in Q1 2025 compared with Q4 2024, following adjustment for price, seasonal and calendar variations. Economic performance was up in the manufacturing industry by 1 per cent, following declines in the previous quarters. GDP in Q1 2025 was down a price-adjusted 0.2 per cent year on year (YoY). After adjustment for price and calendar effects, it stagnated compared with the same quarter of the previous year. Investments fell by 1 per cent YoY in Q1 2025 after adjustment for price variations. Compared with other countries, Germany's economic performance at the start of the year was slightly above the European average: in Q1 2025, economic performance in the European Union (EU) as a whole increased by 0.3 per cent QoQ and was slightly below Germany's 0.4 per cent growth. Fibre2Fashion News Desk (DS)
Saba Yemen
23-05-2025
- Business
- Saba Yemen
German Economy Grows Unexpectedly in First Quarter of 2025
Berlin - (Saba): Germany's gross domestic product (GDP) unexpectedly rose by 0.4 percent in the first quarter of this year, compared to the previous quarter, exceeding initial expectations of 0.2 percent growth. Data from the German Federal Statistical Office on Friday showed that increased exports and increased consumer spending were the main factors contributing to the boost in economic growth during this period. "The surprisingly good economic development in March was the main reason for the increase in growth," said Ruth Brand, head of the office, noting that the manufacturing and export sectors developed better than expected. Exports from the automotive and pharmaceutical sectors, in particular, contributed to economic performance in the first quarter of the year. Personnel consumption expenditures rose by 0.5 percent compared to the previous quarter, supported by lower inflation rates and higher wages in some sectors, which increased the income of many Germans. Investments also grew in the construction sector by 0.5 percent and the equipment sector by 0.7 percent. Whatsapp Telegram Email Print more of (International)
RTÉ News
23-05-2025
- Business
- RTÉ News
German Q1 GDP upgraded as orders rush to beat tariffs
The German economy grew significantly more in the first quarter than previously estimated due to export and industry frontloading ahead of US tariffs, according to a second estimate published today. The economy grew by 0.4% in the first quarter of 2025 compared with the previous quarter, the statistics office said, revising a preliminary reading of 0.2%. Germany had contracted in the final quarter of last year by 0.2%, reigniting recession fears. A recession is defined as two consecutive quarters of negative growth. Manufacturing output and exports registered stronger growth than initially assumed in March, said Ruth Brand, president of the statistics office, explaining the revision. U.S. importers brought their purchases forward in anticipation of tariffs. Europe's biggest economy outperformed the euro zone average growth rate of 0.3% in the first quarter, the statistics office noted. "Today's numbers finally brought back an almost forgotten relic from the past: the German economy can still surprise to the upside," said Carsten Brzeski, global head of macro at ING, although he added that this will likely be a one-off. Germany's sluggish economy has not grown at that pace since the third quarter of 2022, when it expanded by 0.6%. The big question is whether at least part of this momentum can be carried into the coming quarters. In terms of exports and manufacturing production, the second quarter is likely to be more subdued, as preemptive effects due to announced tariffs have played an important role, said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank. However, a cyclical component is also observable in manufacturing - as early indicators up to May show - and the strength in consumption is what could have been expected for some time given real wage increases, de la Rubia said. "Therefore, there are several reasons to believe that the upward trend will continue here," he said. Brzeski said that in the short run, the negatives will outweigh the positives, even though there are finally tentative signs of a turning inventory cycle, which normally bodes well for industrial production over the coming months. "In the longer term, however, there are good reasons to be more optimistic," Brzeski said, mentioning the €500 billion infrastructure fund approved by Germany's parliament in March. German economic growth in the first quarter was driven by trade and consumption. Exports rose by 3.2% compared to the previous quarter and household consumption saw stronger growth than in the preceding quarters, rising by 0.5%. By contrast, government spending declined by 0.3% in the first quarter compared to the previous one. According to the statistics office, this is due to the provisional budget. After former chancellor Olaf Scholz's coalition collapsed in November, the last government ran out of time to pass the 2025 budget. Germany has instead been operating on a provisional budget since the start of the year.
