German economy 2023July 2023
Germany entered a technical, or short-term, recession in the first quarter of 2023, after the country recorded a 0.5% contraction in the last quarter of 2022, preliminary data earlier in the year showed.
A recession is commonly defined as two successive quarters of contraction.
Berlin's Rents FreezeApril 2021
Germany's highest court ruled on April 15, 2021 that the previous decision by Berlin's state government is invalid.
In June 2019 Berlin's state government decided to freeze rents for the next five years, a decision relating to about 90% of Berlin's flats.
The new highest court ruling is a big relief for Berlin's landlords.
Germany Economy ShrinkMay 2020
The GDP of the strongest economy in Europe shrank in the first quarter of 2020 by 2.2% compared to the last quarter of 2019,the worst growth since 2009.
The GDP in the last quarter of 2019 declined by 0.1%.
Berlin's Rents FreezeOctober 2019
The parties forming Berlin's coalition agreed on October 18, 2019 to freeze the rents in Berlin for the next five years.
The decision is a serious blow to the landlords in the city.
The decision is expected to be approved by Berlin's legislature this week.
Germany GDP GrowthMay 2016
The German federal statistics office announced on May 13, 2016 that the German GDP grew sharply by 0.7% in the first quarter of 2016, 2.7% on annual basis, compared to a growth of 0.3% in the fourth quarter of 2015.
The preliminary forecast was for a rise of 0.6%.
Germany Economy GrowthFebruary 2016
The German economy grew by 0.3% in the fourth quarter of 2015 compared to the parallel quarter in 2014.
In the full rear of 2015 the German economy grew by 1.7%.
Germany GDP Up 0.1%November 2014
The German federal statistical office announced on November 14, 2014 that the German GDP rose by 0.1% in the third quarter of 2014 following a decrease of -0.1% in the second quarter and an increase of 0.8% in the first quarter On a year on year comparison the German economy rose by 1.2% compared to the third quarter of 2013.
Germany GDP 0.6% DeclineFebruary 2013
According to an early estimate by the federal statistical office the German GDP declined by 0.6% in the 4th quarter of 2012 compared to a rise of 0.2% in the 3rd quarter.
Analysts' forecast for the 4th quarter decline was only 0.5%.
Germany's Restructuring Fund OrdinanceMarch 2011
The German cabinet adopted on 2.3.2011 the restructuring fund ordinance put forward by the ministry of finance.
The restructuring fund act and the new ordinance pave the way for introducing the bank levy.
The new ordinance governs certain points which were left open in the act including stipulation for the rates of the levy, specifying the threshold for a reasonable burden and outlining the procedure for collection.
The ordinance must be first reviewed and approved by the German parliament before entering into force.
Source: Federal Ministry of Finance site.
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