Germany [New] Germany's constitutional court jolted eurozone investors and hit the value of the euro after judges warned that the European Central Bank's plans to flood the financial system with cheap credit could breach German law. [New] Europe's biggest economy, Germany, has already slipped into a recession, with GDP expected to shrink by 6.3% this year - the biggest contraction since 1949. [New] Ad spend in areas of mainland Europe such as Spain, Italy and Germany are expected to see an overall decrease in ad spend growth this year and in 2021. Germany, Europe's largest economy, will suffer a deep slump in the first half of this year but should rebound relatively quickly from the disruption of the virus outbreak. The situation of food markets over the next months should be stable and even harvests this year will not substantially decrease - especially given the poor yields from the two last seasons in Germany due to drought. Germany is expected to increase its dependence on renewable sources such as wind and solar in the power mix to 65% by 2030. Even the German league - which runs the Bundesliga and has annual turnover of more than four billion euros ($4.3 billion) - fears a catastrophe. Researchers from Germany's five leading economic institutes are expecting the national economy to shrink by 4.2% for the year. On average, the UK has a more densely packed population and faster growth rate than other large countries in Europe and is expected to overtake Germany as the most populous European nation by 2050. In the German manufacturing sector, industry 4.0 will drive productivity by 5-8% in the next 10 years, creating 390,000 new jobs and increasing investments by US$269bn. Over the coming two years, German companies will increase their emphasis on cloud transformation as they seek new services. Indications are that Germany is considering EUR 350 billion worth of fiscal stimulus in 2020, which, if it materialises, will be significant in our view, considering Germany's general fiscal prudence. Up to 38% of U.S. jobs could be at high risk of automation by the early 2030s, higher than Germany, the UK and Japan (21%). Germany intends to exit coal by 2038, but may do so sooner due to falling renewables prices. UBS expects Spain, France, Germany and Italy to add some 800 high-speed rail units over the next 10 years, which will generate between $43.48 billion and $65.22 billion of revenue opportunities. Cumulative loss of the global gross domestic product over 2020 and 2021 from the pandemic crisis, could total round $9 trillion, greater than the economies of Japan and Germany combined. Experts from the German finance ministry expect borrowing costs to go up by 0.8%, resulting in additional borrowing costs of 2.5 billion Euros in the first year of introduction and 5 billion in the second year, reaching 20-25 billion Euros after 10 years respectively. The largest decline in GDP is expected in Japan, Italy and Germany. Federal Environmental Agency, Germany will miss its target of doubling raw material productivity by 2020. Germany will miss its target of doubling raw material productivity by 2020, and its secondary raw material use rate is below the EU average. German ambitions for offshore wind farms are high, and the national expansion target for 2030 is to be raised from 15 to 20 GW this year. Concerted efforts will be required in Germany in the coming years to address the consequences of an ageing population and to decarbonise the economy. The cumulative loss to global GDP over 2020 and 2021 from the pandemic crisis could be around 9 trillion dollars, greater than the economies of Japan and Germany, combined. See full forecast Last updated: 26 May 2020 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No
