Latest news with #RuthBrand
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.
Time of India
23-05-2025
- Business
- Time of India
German GDP sees 0.4% growth in the first quarter of 2025
German GDP sees 0.4% growth in the first quarter of 2025 Germany's battling economy has seen better than expected growth in the first quarter of 2025 with the Federal Statistics Office (Destatis) reporting an improvement of 0.4% when compared to the the last quarter of 2024. It is twice the initial growth forecast of 0.2% and comes off the back of rising exports and stronger consumer spending during the period in question. Ruth Brand, president of Destatis, pointed to "surprisingly good economic development in March" as a key driver behind the higher growth figures. Brand said said there was better than expected performance in production in the manufacturing sector and exports, especially of cars and pharmaceuticals. That all came as producers tried to get on the frontfoot ahead of the Trump administration imposed sweeping tariffs earlier in April. Thursday saw Germany's new Finance Minister Lars Klingbeil highlight how the new coalition government is looking to revive the country's economy.
Free Malaysia Today
23-05-2025
- Business
- Free Malaysia Today
Germany's Q1 GDP upgraded as orders rush to beat tariffs
The statistics office said they outperformed the euro zone average growth rate of 0.3% in the first quarter. (EPA Images pic) BERLIN : 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 on Friday. 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. US 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 pre-emptive 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. Investment also increased by 0.9% in the first quarter, compared to the last quarter of 2024.
