Market news

11 June 2021

Bundesbank sees German economy at start of strong upswing

Bloomberg reports that the Bundesbank said that Germany’s economy is poised for a strong upswing in the second half of this year, with activity likely to reach pre-crisis levels as soon as this summer.

The central bank’s updated projections are more optimistic than in December. They see Europe’s largest economy expanding 3.7% this year and 5.2% in 2022.

“The German economy is overcoming the coronavirus crisis. The pandemic’s containment “will result in substantial catch-up effects, primarily in private consumption as well as in services sectors that had been impacted especially hard by the measures,” Bundesbank President Jens Weidmann said. 

On Thursday, the European Central Bank renewed a pledge to deliver faster bond buying even as it revised higher its own forecasts for the euro-area economy. It also proclaimed for the first time since December 2018 that risks for the region’s outlook are “broadly balanced.”

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.42% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.