tag:blogger.com,1999:blog-8282587.post3761472997684649755..comments2024-03-19T01:48:39.709+00:00Comments on Power and Control: Blazing EconomiesM. Simonhttp://www.blogger.com/profile/09508934110558197375noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-8282587.post-5074611155443811412008-08-11T03:33:00.000+00:002008-08-11T03:33:00.000+00:00Seems to me the difference won't matter once the w...Seems to me the difference won't matter once the winter comes and the Russians shut the lights off on Germany.Nickhttps://www.blogger.com/profile/03832751540510915839noreply@blogger.comtag:blogger.com,1999:blog-8282587.post-79190561231806283632008-08-10T00:26:00.000+00:002008-08-10T00:26:00.000+00:00vantastic5,You are correct:Germany’s economy has p...vantastic5,<BR/><BR/>You are correct:<BR/><BR/><I>Germany’s economy has performed robustly compared with other industrialised countries, with 2.5 per cent growth last year and 1.5 per cent quarter-on-quarter growth in the first three months of 2008.<BR/><BR/>However, second-quarter growth is expected to be significantly lower, the German finance ministry conceded this week, owing to high energy prices and inflation, the strong euro and the weak international economy.<BR/><BR/>Industrial production fell in May by 2.4 per cent – its largest monthly drop in a decade – and a second-quarter contraction in gross domestic product of 0.4 per cent was likely, according to an economists’ poll published on Wednesday by Reuters.<BR/><BR/>The German government has forecast that growth will fall to 1.7 per cent this year and 1.2 per cent in 2009.</I><BR/><BR/><A HREF="http://www.ft.com/cms/s/0/0de691b6-58dc-11dd-a093-000077b07658.html" REL="nofollow">Financial Times</A><BR/><BR/>Basically what it looks like is that they got a year's growth in one quarter and the rest of the year will be effectively flat.<BR/><BR/>I have to go out for a while but I will correct it later and give you credit.M. Simonhttps://www.blogger.com/profile/09508934110558197375noreply@blogger.comtag:blogger.com,1999:blog-8282587.post-71763494646731199982008-08-09T23:28:00.000+00:002008-08-09T23:28:00.000+00:00m. simon, I don't disagree with what you've said....m. simon, I don't disagree with what you've said. I think the German economy is in trouble. I'm only saying that their statistic is per quarter growth. It may be not reflect what is really going on in their economy, but calling 1.5% per quarter growth "blazing" would be pretty accurate.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8282587.post-53847161267951266382008-08-09T20:56:00.000+00:002008-08-09T20:56:00.000+00:00It is highly doubtful that Europe or even Germany ...It is highly doubtful that Europe or even Germany grew at a 6% yearly rate. Their long term tend has been to under perform the average US rate by about 1%.<BR/><BR/>So a 1.5% rate is about right.<BR/><BR/>In addition the Germans have been building plants in the US and shutting them down in Germany. Hardly a sign of a vibrant economy. <BR/><BR/>In addition the weak dollar has been sucking manufacturing capacity out of Europe. Another reason to believe 1.5% is right.M. Simonhttps://www.blogger.com/profile/09508934110558197375noreply@blogger.comtag:blogger.com,1999:blog-8282587.post-71913735043251268162008-08-09T20:42:00.000+00:002008-08-09T20:42:00.000+00:00Hi,It is my understanding that the Europeans annou...Hi,<BR/><BR/>It is my understanding that the Europeans announce growth per quarter, not per year, like we do in the US. In that case a 1.5% growth, sustained over a year, would be >6% growth. The wording is likely a reflection of this difference.Anonymousnoreply@blogger.com