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Monthly Report: German economy still weak

19.11.2024

German economic output rose unexpectedly in the third quarter of 2024, according to the Monthly Report. However, none of the key demand components currently give any cause to expect a marked recovery in the short term. “The industrial sector is faced with a difficult environment and is under high pressure to adapt,” the economists write. In addition, the labour market is becoming increasingly gloomy owing to the protracted bout of economic weakness.

Monthly Report: German economy still weak
Container ship from above ©aerial-drone / AdobeStock
Nagel: “We have to get our act together”

13.11.2024

We could be on the verge of a global economic turning point, Bundesbank President Joachim Nagel said in an interview with the weekly newspaper “Die Zeit”. In this situation, we need more Europe, not less. Trump’s proposed trade tariffs could prove very painful for Germany. Should they be implemented, he said, we might even see negative economic growth next year. Mr Nagel considers European monetary policy to be on the right track.

Nagel: “We have to get our act together”
Bundesbankpräsident Joachim Nagel bei der Pressekonferenz zur Vorstellung des Geschäftsberichts 2022 ©Frank Rumpenhorst
New allocation of responsibilities within the Executive Board of the Deutsche Bundesbank

At the beginning of November, Fritzi Köhler-Geib was appointed as new member of the Executive Board. The Executive Board has therefore reallocated its areas of responsibility. The following allocation of responsibilities shall apply with immediate effect.

Executive Board of the Deutsche Bundesbank
Executive Board of the Deutsche Bundesbank ©Gaby Gerster, Alexandra Lechner, Nói Crew
Ten years of the SSM

04.11.2024

On 4 November 2024, the Single Supervisory Mechanism (SSM) celebrates its 10th anniversary: since its inception on 4 November 2014, the largest and most significant banks in the euro area have come under the direct supervision of the European Central Bank (ECB) as part of the SSM. Its aim is to promote financial stability and minimise risk. Joint Supervisory Teams and standardised rulebooks help to harmonise banking supervision and strengthen trust in the European banking system.

Ten years of the SSM
Skyline Frankfurt am Main ©Olaf Dziallas