29 Apr 2016
Germany: Criticized by the EU, the ECB, the IMF and the US - BBH
Research Team at BBH, notes that the Germany is criticized by the EU, the ECB, the IMF and the United States for not bolstered domestic demand.
Key Quotes
“Given its large current account surplus in excess of EC rules, given its low (mostly negative) interest rates, and the clear need to modernize its infrastructure. Today's data provides more fodder. Retail sales in March slumped 1.1%. The median estimate on Bloomberg was for a gain of 0.4%. The fact that the 0.4% decline in February was revised to flat is helpful, but the year-over-year pace of 0.7% is poor and more telling.”
Key Quotes
“Given its large current account surplus in excess of EC rules, given its low (mostly negative) interest rates, and the clear need to modernize its infrastructure. Today's data provides more fodder. Retail sales in March slumped 1.1%. The median estimate on Bloomberg was for a gain of 0.4%. The fact that the 0.4% decline in February was revised to flat is helpful, but the year-over-year pace of 0.7% is poor and more telling.”