By contrast, the state increased its consumer spending during the crisis.

The gross domestic product shrank in the second quarter compared to the previous quarter by 10.1 percent, as the Federal Statistical Office in Wiesbaden announced in an initial estimate. It was the sharpest decline since the quarterly GDP calculations began in 1970. „It is now official – the recession of the century,“ said DekaBank economist Andreas Scheuerle. What neither stock market crashes nor oil price shocks have managed to date was achieved by a tiny 160 nanometer named Corona. Economic output had already plummeted at the beginning of the year. Since Europe’s largest economy has already shrunk by 2.0 percent in the first quarter due to the beginning pandemic, it is now officially in recession. Economists speak of this when the gross domestic product has fallen for at least two quarters in a row. „That was the expected bad result and – hopefully – a negative record for eternity,“ says chief economist Uwe Burkert from LBBW.

He now expects to catch up for the rest of the year. How strong it becomes, however, depends less on economic policy than on the development of the number of infections. „But even in the best case, that is, without a new lockdown, it will take a few quarters before we can make up for this loss of economic output.“ According to the Wiesbaden authority, exports and imports of goods and services plummeted in the second quarter, as did private consumer spending and corporate investments in equipment such as machines. By contrast, the state increased its consumer spending during the crisis. In a year-on-year comparison, economic output slumped by 11.7 percent. The strongest decline to date compared to the same quarter of the previous year occurred during the global economic and financial crisis with minus 7.9 percent in the second quarter of 2009.

Economists assume that the economy will pick up in the second half of the year, provided that the number of infections does not rise significantly again. The economic and social restrictions imposed because of the virus have been increasingly relaxed since May. According to the German Institute for Economic Research (DIW), the signs are „clearly pointing to recovery“. But it will probably take two years before the historic slump in spring is made up for.

According to the Deutsche Bundesbank, economic activity should have bottomed out in April. The economic recovery should continue in the second half of the year. „The recently approved economic stimulus package will also contribute to this,“ wrote the experts in the latest monthly report. The federal government has launched an economic stimulus package worth a total of 130 billion euros for 2020 and 2021. Among other things, VAT was reduced for six months from July 1: from 19 to 16 percent and 7 to 5 percent.custom assignment writing service

This should boost consumption as an important pillar of the economy. In the opinion of the GfK consumer researchers, the first effects are already evident. „The propensity to buy has risen sharply,“ said consumer researcher Rolf Bürkl when presenting the consumer climate study for July. „Consumers apparently intend to move forward with planned major purchases, which will help consumption this year.“ The mood has also brightened in companies. The Ifo business climate index rose for the third month in a row in July. Despite the expected recovery for the year as a whole, the German government is anticipating the worst recession since the end of the Second World War.

Most recently, it assumed a decline in gross domestic product of 6.3 percent. Other predictions are similarly bleak. In the global economic and financial crisis of 2009, German GDP shrank by 5.7 percent. Source: ntv.de, jki / rts / dpa „The extent of the corona pandemic for European economies is becoming increasingly clear. Of the big four, it must be Everyone will suffer double-digit declines. The recovery will take years. In Europe, the number of countries with dramatic economic slumps is growing.

With France, Italy and Spain numbers two to four on the list of the largest economies in Europe now also presented deep red numbers. It hit the southwest of the continent particularly hard. The Corona crisis plunged Spain into the deepest recession in its history. The gross domestic product (GDP) fell in the spring quarterly by 18.5 percent, as the National Statistics Office announced. Compared to the previous year, there was even a decrease of 22.1 percent.

France and Italy are also both reporting double-digit losses, but things didn’t go as badly as feared for either. The three countries in Europe are hardest hit by the pandemic, with tens of thousands dead each. Paris suffered an economic downturn of 13.8 percent in the second quarter. This was announced by the French statistical office Insee. In June, however, statisticians had estimated the minus at 17 percent. (Photo: picture alliance / dpa) In Spain, the economic engine had been running for years before the outbreak of the pandemic.

But the exit and contact restrictions to curb the spread of the virus brought the economy to its knees. The very important tourism sector in particular is still suffering from the consequences of the pandemic. In the course of the virus crisis, the already high unemployment in Spain has also increased massively. A million jobs were lost between April and June – more than ever in a quarter. According to Prime Minister Pedro Sánchez, Madrid can expect 209 billion euros from the corona aid package recently put together in Brussels – of which 81 billion euros in grants that do not have to be repaid.

In Italy, the slump between April and the end of June was 12.4 percent compared to the previous quarter, according to the Istat statistics office in Rome. Even if the authority spoke of an „unprecedented economic slump“, the forecasts of many experts turned out to be too pessimistic. „The already meager growth of the past few years was destroyed in one fell swoop in the first half of 2020,“ said chief economist Thomas Gitzel from VP Bank. According to Istat, the Italian economy came under the wheels in all areas.

Compared to the previous year, GDP in Italy fell by 17.3 percent in the second quarter. The chronically low-growth country was caught cold in the spring by the virus pandemic, which spread rapidly, particularly in the economically strong north of Italy, and burdened the health system to the limit and in many places beyond. The government in Rome ordered strict protective measures that paralyzed large parts of the economy in the spring and continue to have an effect today. The tourism sector also continues to suffer. In order to get the economy back on its feet, Italy can also expect a transfer of more than 200 billion euros from Brussels. In response to the crisis, Conte launched an economic program that he described as the „mother of all reforms“.

The aim is to reduce bureaucracy and make investments easier. In addition, 75 billion euros are to be made available for aid to companies and private households. Another stimulus package worth 25 billion euros is to be put together at the beginning of August. Europe’s largest economy, Germany, reported a 10.1 percent drop in GDP the day before.

Portugal reported a drop of 14.1 percent. The decline in GDP was comparatively minor in Lithuania with minus 5.1 percent and in Latvia with minus 7.5 percent. The euro zone recorded a decline of 12.1 percent. In the world’s largest economy, the USA, GDP fell by 9.5 percent year-on-year from April to June, as in the USA, according to the statistics agency usual, the slump was almost 33 percent. Source: ntv.de, jwu / rts / dpa „The gross domestic product (GDP) in the USA is losing momentum more and more.

According to estimates by the US Department of Commerce, it only achieved an increase of 1.4 percent in the fourth quarter. Analysts, however, had assumed 2.3 percent. In the third quarter, the economy grew by 2.2 percent. The quarterly results are the worst in more than five years, driven by lower consumer spending and high inventory levels.

Despite the cooling growth in the last two quarters, the annual gross domestic product is estimated at five percent. The reason is the good economic conditions in the first half of the year. Stronger growth (7.3 percent) was recorded only in 1984; the figures were released on the second day of a meeting of the Federal Reserve Bank’s Open Market Committee. The committee advises on interest rate policy. Experts consider a cut in key interest rates of 50 basis points to be likely.

The announcement of the interest levy is expected at 8.15 p.m. CET. Source: ntv.de „How efficient are the most important economies? N-tv.de news on the subject of gross domestic product in the overview, with a focus on news on German GDP.dpa“ How efficient are the main economies? An overview of the n-tv.de news on the subject of gross domestic product, with a focus on news on the German GDP.dpa What has long been feared, now seems to be finally coming true. Japan is slipping straight into recession. Now the Japanese government has also lowered its growth forecast for the current fiscal year 2001/2002 to minus 0.9 percent. According to preliminary figures, the US gross domestic product shrank by 0.4 percent in the third quarter of 2001. Nevertheless, the numbers were received with relief on the financial markets.

The latest Japanese economic data are not good news. GDP will fall this year and industrial production collapsed sharply in September. The Halle Institute for Economic Research (IWH) is forecasting growth in German gross domestic product (GDP) of around one percent for the current year. The gross domestic product (GDP) of the USA only increased by 0.2 percent in the second quarter of 2001. Initial US estimates were still at 0.7 percent.

In view of the latest GDP figures, the leading economic research institutes do not expect a trend reversal in the near future. But there can be no talk of a recession. The German economy is not gaining momentum. The gross domestic product rose by only 0.6 percent in the second quarter of 2001, which is the lowest increase in four years.

The economic downturn in the USA has apparently assumed greater proportions than previously assumed. The US Department of Commerce has now revised its growth figures for the first quarter downwards again. Recession or just a short economic downturn?

German economic researchers have not yet found a uniform answer to this. Only one thing seems certain: it is going down. „How efficient are the most important economies? N-tv.de news on the subject of gross domestic product in the overview, with a focus on news on German GDP. Dpa economists agree: The part- Lockdown is unlikely to cause lasting damage to the German economy as a whole. The challenge: The companies affected must be kept afloat. The crash was deep, but now things are picking up again with great strides: The German economy is growing strongly in the third quarter even when it was forecast: The economies of Japan and China are starting with turbo growth from the corona crisis.

While one lockdown chases the next in Europe, business is flourishing again in East Asia. But how sustainable is the trend when the West’s strong trading partners are in dire straits? Not everything is as it was before the coronavirus pandemic. But in the past few weeks Germany has been exporting more goods abroad.

With the increasing number of infections, however, there is also growing concern that the comeback will soon be over. In the spring, the US economy collapses to an unprecedented degree. The easing in the summer will then be on the up again just as clearly. This predominantly statistical effect is likely to play an important role in the last few meters of the election campaign.

In the German executive suite, nervousness is growing in view of the corona infections. One economist points out that the quarantine of many people is already noticeably slowing down the economy. The mood is clouding over again, especially among service providers. The German economy is suffering more from the Corona crisis than previously assumed. The leading economic research institutes revised their previous forecast downwards.

The federal government is trying to counteract the economic crisis caused by the coronavirus with unprecedented aid programs. But the billions in loans pulverize the state doctrine of the black zero and bring Finance Minister Scholz to explain. The German economy is on the road to recovery. Experts anticipate that gross domestic product will grow again after a historic slump. The positive development can already be felt on the labor market.

But one industry remains the problem child. „Even if it did not influence the election result, fake news is dangerous. Because he believed Hillary Clinton’s employees were running a child porn ring here, an armed man stormed this pizzeria in Washington last October. (Photo: REUTERS) The spread of bold fake news reached an unprecedented level in the US presidential election campaign in 2016. Nevertheless, as two scientists have found out, it is likely to have little impact on the results.

In Germany too, politicians are thinking out loud about legal measures against deliberately spread false reports. Studies from the USA show that it is not just the majority of citizens who use social networks as a source of news and that some fake news is spread more widely there than real news. Many who read the sometimes absurd rumors on the Internet believe them.

In addition, evaluations by so-called fact checkers show that most of the fake news in the election campaign specifically supported a candidate: Donald Trump. But does it all mean that the US election was decided by lies spread on Facebook? No, say the two American economists Hunt Allcott and Matthew Gentzkow.

In an extensive study, they examined the effect of fake news on American voters and came to the conclusion that the influence of this phenomenon is smaller than is often assumed Study is a survey of 1200 Americans eligible to vote.