Germany’s Houdini act
Germany has narrowly – and unexpectedly – escaped a recession. Its economy grew exactly 0.08% in the third quarter, as consumer spending came in better than expected. This, however, reduces the odds of more German fiscal stimulus to prop up economic growth – despite ever more persistent pleas from the ECB and its new president Lagarde for the Eurozone’s biggest economy to do just that. With the budget surplus only expected to fall from 1% this year to 0.55% next year, it seems that Germany wants to wait until things get worse before making them better.
As a senior portfolio manager I use charts to illustrate financial issues every day. I tweet my favorites as @jsblokland and was named 'one of the 50 most important people for investors to follow in 2018' by MarketWatch.
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