Talking point
German industry: Only marginal increase in output at start of 2015
Despite only marginally higher output in Germany's manufacturing sector in Q1 2015 we are sticking with our full-year production forecast (+1.5% in real terms). The current softness of the euro benefits Germany's export sectors. Nonetheless, companies appear much more upbeat in their assessment of the current situation than in their expectations for the coming months. This is likely due, for example, to continuing geopolitical risks and poorer economic policy conditions in Germany. So it is clear that in the business world not everything is sweetness and light. [more]
Germany
Focus Germany: German savers challenged by QE
The financial situation of German households continued to improve markedly in 2014. The good income situation enabled them to make new investments to the tune of EUR 160 bn. In addition, the valuation gains on existing financial assets came to EUR 53 bn. Overall, total gross household financial assets thus increased from EUR 5 tr to EUR 5.2 tr (180% of GDP). Nothing has fundamentally changed with regard to the minimal risk appetite of German investors; risk-bearing investments still constitute less than 25% of financial assets. However, their share of new investments climbed to 11%. Furthermore, in 2014 EUR 20.5 bn of new debt was taken on. Both developments have probably been heavily influenced by the low-interest rate environment and are likely to continue in 2015 given the monetary policy outlook.  [more]
European integration
A profile of Europe’s populist parties: Structures, strengths, potential
Populist parties are gaining momentum in countries across Europe. Their profiles may be fundamentally different, but they are united in rejection of further steps towards European integration. Despite successes at national level, no noteworthy influence has been wielded by Eurosceptic parties at the European level to date. However, populist parties could shape European politics in the future by blocking progress in political areas that require broad consensus in particular. Established parties could then be forced to follow a course aligned more strongly with putative national interests. This could mean that reforms are not implemented on time or in full, thus preventing the required further development of the institutions of the eurozone. [more]
Spotlight on Germany
 
 
Interactive maps
Copyright © 2015 Deutsche Bank AG, Frankfurt am Main