Related Post
Exports recorded Germany Industrial production declined more than expected last September, showing weakness in two of the main foundations of the German economy at the beginning of the fourth quarter.
Data from the Federal Statistical Office showed on Thursday that Exports It decreased by 1.7% last September compared to the previous month. A Reuters poll expected exports to fall by 1.4%, according to what Reuters reported.
It may hurt the return Donald Trump To the White House regarding industry and exports in Germany, he pledged to impose… Customs duties A rate of 10% on imports from all countries.
Federal Statistics Office data showed that industrial production fell by 2.5% on a monthly basis last September, compared to expectations in a Reuters poll of 1%.
These results come at a time when Germany entered a major political crisis with the collapse of the fragile government coalition following the dismissal of the Chancellor Olaf Schultz The Minister of Finance and the withdrawal of the rest of the Liberal Party ministers from the government, so that the country finds itself facing possible early elections at the beginning of next world.
On Wednesday evening, Chancellor Schulz said that he had fired Finance Minister Christian Lindner because he “betrayed my trust repeatedly… Serious government work is not possible under such circumstances.” Lindner is the leader of the Liberal Party, a partner in the government coalition.
Germany is going through the worst possible time, as the largest economic power in Europe is currently suffering from a serious industrial crisis and is concerned about Trump’s victory in the presidential elections in the United States and the repercussions of this victory on its trade and security.
Schulz holds the chancellorship through a coalition of three parties: the Social Democratic Party led by him, the Free Democrats led by Lindner, and the Green Party.
Jörg Kukes, the current economic advisor to German Chancellor Olaf Scholz, is scheduled to become the successor to the dismissed Finance Minister Christian Lindner, according to what the German News Agency reported on Thursday, citing government sources.
