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In Germany, in the second quarter consumers turned to be the major source of surge, as data disclosed on Friday. It’s because Europe's number one economy derived the benefits of record-high employment, ascending wages as well as low interest rates.
In April to June, the German economy ascended by 0.6% percent, as the Federal Statistics Office informed, providing support to Chancellor Angela Merkel's campaign for re-election, revolving around a pledge to generate jobs and reduce taxes.
Private consumption inched up by 0.8%, adding 0.4% to ascend in GDP. A labor market hungry for manpower has powered wages, while low interest rates set by the ECB are stimulating German consumers to spend rather than save.
Private consumption still appears to be a reliable driver of surge, as many financial experts state.
Apart from private consumption, the German economy also benefited from state spending as well as investments in equipment and construction.
In June, German business confidence slipped to its lowest value for more than a year, thus dropping a hint that the mood among company executives in the EU’s number one economy is worsening as the world is getting closer to a full-fledged trade conflict…
The Australian corporate regulator might require playing a greater role in regulating agricultural finance considering the absence of redress options for borrowers, as it shifted its attention to Australia’s $50 billion farm sector…
In June, American private sector activity speeded down, as follows from survey data uncovered on Friday…
On Monday, Asian shares shook off a sluggish start and stabilized, with Japan outperforming on positive earnings…
America’s on the verge of starting an investigation into whether thermoplastic components utilized in some Japanese as well as German vehicles sold in the country violate its patent laws or not…
On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…
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