The German economy is recovering gradually: New data is better than expected, but ECB warns of 2. Shaft

the Ifo Institute announced in Munich on Monday. Analysts had only expected an increase to 89.3 points. It is the third rise in the economic indicator in a row

The German economy is recovering gradually: New data is better than expected, but ECB warns of 2. Shaft

the Ifo Institute announced in Munich on Monday. Analysts had only expected an increase to 89.3 points. It is the third rise in the economic indicator in a row after he was charged in April by the Corona-crisis - to a record low of 74.3 points had fallen.

The company, your future is particularly valued prospects better. But also the assessment of the current situation improved. "The German economy is recovering gradually," commented the President of the Ifo Institute, Clemens Fuest.

ECB: "It is too early to declare victory"

Europe's monetary watchdogs warn, however, despite these signs of economic recovery after the Corona Crash against too much euphoria. "It is too early to declare victory," said Fabio Panetta, a member of the Executive Board of the European Central Bank (ECB), in a Monday Interview published in the Italian newspaper "La Repubblica". Chief financial officer - Live will-Online-conference on 3. August!

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the Latest data showed, certainly, that there is progress, stated Panetta. For example, the industry has grown, production in the Euro area in may to 12 per cent and retail sales by 18 percent. "But we must view this improvement with caution, because they are a result of the recovery that was expected after the previous catastrophic decline in economic activity", restricted Panetta. In addition, the recovery reflects the enormous aid programmes by States and Central banks.

"There is the risk of a second wave"

The ECB has responded to the economic dislocations of the Corona-pandemic with a particularly flexible purchase program for bonds. there is still The program of 1.35 trillion euros in volume should at least run until the end of June 2021.

"The economic activity is still far below the pre-crisis level, and on the basis of our forecasts, we will see before the end of 2022, no return on this level," said Panetta. "And let's not forget that we know how the pandemic will develop: In some countries, the risk of a second wave still exists." Order your Ticket now! Germany's largest financial week

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Updated Date: 29 July 2020, 02:27

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