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Blokland’s daily sketch

Blokland’s daily sketch

15-11-2019

Germany’s Houdini act

  • Jeroen Blokland
    Jeroen
    Blokland
    Head of Multi Asset

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.

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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.
Previous editions of the daily sketch can be found on my personal financial markets blog. All graphics provided are collected from Bloomberg data and public websites. They do not always reflect my personal opinion and may also not necessarily reflect the opinion of Robeco. Please cite all references or quote the original source if replicating content.

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