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A record number of German companies are assured that the economy in the external markets where they conduct business will improve, notwithstanding the surge of political as well as trade risks. That’s what a study uncovered on Friday pointed out.
About 40% of the 5,100 companies surveyed in March and April by the DIHK Chamber of Commerce and Industry told that they expect positive economic changes in foreign markets over the next 12 months, which appears to be the highest result since the poll started in 2015.
Only 10% told that they expect the economy to weaken, while 50% don’t foresee any changes.
Some financial analysts pointed out that Germen companies see more barriers to trade. However, political meltdowns and economic uncertainties, including Brexit, are visible too.
Nevertheless, the global economy keeps thriving and the German economy undoubtedly derives a number of benefits from this, considering its international character, added financial experts.
In addition to this, market experts told that conflicts in the Middle East and Africa, to say nothing of the US trade protection policy turn out to be primary sources of uncertainty for many German companies.
The given poll was conducted at a time when the dispute over metal duties set by the United States of America was in full swing.
In March, the US President Donald Trump rolled out a 25% duty on steel imports as well as a 10% duty on aluminum, although next month he granted benefits until 1 June for Canada, Mexico, Brazil, the European Union, Argentina and Australia.
His Tuesday’s shocking decision to withdraw the United States from the international nuclear deal reached with Iran in 2015 and also newly- imposed economic sanctions against this Middle-Eastern country can affect all foreign companies that conduct business with the Islamic Republic.
Commodities (iron ore, oil) and commodity-linked currencies (AUD, CAD) surged. West Texas Intermediate has reached $75 a barrel, while Brent rose to the highest mark since October 2018.
The Kansas City Federal Reserve announced Friday the annual Jackson Hole symposium will be held virtually, a reversal from prior plans that saw a modified, in-person program…
US Advance quarterly GDP is announced on April 29 at 15:30 MT time.
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
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