Germany

German business confidence fell for the fourth straight month in October and is now at its lowest level in six months, according to research institute Ifo.   In particular, persistent problems in the supply chain are a source of concern for German companies, the researchers say. The index that measures confidence now stands at 97.7. There is more uncertainty among entrepreneurs, in particular concerning future expectations. But they are also less optimistic about the current situation due to shortages of materials. For example, the lack of computer chips at car companies is inhibiting production in the German industry. Ifo president Clemens Fuest explains "sand in the wheels of the German economy", hindering the recovery. Major German economic research institutes, including Ifo, ...

Coal is again Germany's main energy source. The conventional energy source overtook wind as the largest energy supplier in the first six months of the year. This is happening at a time when there is a major discussion in Germany in the run-up to the elections in September about measures to combat climate change.   According to calculations by the German Federal Statistical Office, 56 percent of the 258.9 billion kilowatt-hours of electricity generated in Germany during this period came from conventional sources such as coal, natural gas or nuclear power. That represented an annual increase of one fifth. By contrast, the share in the energy mix of renewable energy sources such as wind, solar energy and biogas decreased to 44 percent. This was considerably less compared to the Januar...

German airline Lufthansa expects its network of routes to be nearly back to pre-coronavirus levels by September, despite air traffic restrictions. That's what the head of flight route planning at Lufthansa said in an interview.   According to planner Heiko Reitz, Lufthansa, with its subsidiaries Swiss, Austrian, Eurowings and Brussels Airlines, wants to return to almost all destinations worldwide. However, flights will then be less frequent than before because the number of travellers is still much lower than before the outbreak of the corona pandemic. A number of tourist destinations are already back in the network for the summer. Lufthansa hopes that profitable business travel will also recover from the crisis. KLM previously said that the international network is almost back to...

Inflation in Germany rose less sharply in June than in May when it reached its highest level since 2018. Lately, there has been a lot of buzz in the financial markets about rising inflation because central banks such as the European Central Bank (ECB) may be able to raise interest rates more quickly. Lower inflation is related to less sharp increases in energy and food prices. Certain services also became less expensive after their prices previously rose sharply due to high consumer demand due to the reviving of the economy from the corona crisis. For example, it concerns holidays. According to introductory figures from the German Federal Statistical Office, inflation was 2.1 percent year-on-year, equated to 2.4 percent a month earlier. This is a so-called harmonized figure so that Ger...