Good morning from #Germany, which has just ended Japan’s 34y streak as the world’s top creditor nation.
Germany’s rise is driven by its large current account surplus, which hit €248.7bn in 2024, thanks to strong exports.
Japan’s surplus, by comparison, totaled €180bn acc to its https://t.co/X0lA09RrFT
— Holger Zschaepitz (@Schuldensuehner)
May 27, 2025

Good Morning from #Germany, where seasonally adjusted unemployment rose by 34,000 in May — the biggest increase since mid-2022.
The data adds to growing concerns that 2025 could be another year of economic stagnation, as ongoing tariff uncertainty weighs on both businesses and https://t.co/APUZu1baXp
— Holger Zschaepitz (@Schuldensuehner)
May 28, 2025

Good Morning from #Germany, where food prices have increased more sharply on avg than in any other European country since the COVID crisis. Despite its strong discount retail culture, Germany is no longer Europe's cheapest place for groceries—except when it comes to Nutella or https://t.co/0cVi8yPKVb
— Holger Zschaepitz (@Schuldensuehner)
Jun 2, 2025

Good Morning from #Germany on ECB Day! Acc to Taylor Rule—which estimates where interest rates should be based on inflation & employment—rates in Germany are already 1.45ppts too low, so no cut would be justified. Still, markets expect ECB to deliver its 8th rate cut of this https://t.co/aceTFVwMZe
— Holger Zschaepitz (@Schuldensuehner)
Jun 5, 2025

Good Morning from #Germany, where the number of foreigners gaining German citizenship jumped 46% last year. In 2024, 291,955 people were naturalized — the highest number since 1997. Syrians topped the list, accounting for more than one in four naturalizations (83,150 or 28%). https://t.co/lgt2ONfjBa
— Holger Zschaepitz (@Schuldensuehner)
Jun 10, 2025

Good Morning from #Germany, where the 1y-ahead Power Price surges to its highest level since Feb due to a jump in gas prices following rising Middle East risk and on potential French nuclear outage. French nuclear safety authority (ASNR) announced that EDF has detected possible https://t.co/0fuWGg7l8Z
— Holger Zschaepitz (@Schuldensuehner)
Jun 13, 2025

In case you missed it: #Germany’s private sector economy unexpectedly returned to growth in June. The composite PMI rose to 50.4, up from 48.5 in May, signaling a move back into expansion territory.
Manufacturing – a key sector for Germany – saw its PMI climb to 49, the highest https://t.co/ja3hClqGzV
— Holger Zschaepitz (@Schuldensuehner)
Jun 23, 2025

Good Morning from #Germany, where consumers don’t seem to feel the “Merz magic” yet, as ING’s @carstenbrzeski puts it. The latest GfK consumer confidence index fell slightly to -20.3 for July, down from -20.0 in June, showing that sentiment remains subdued.
Despite rising https://t.co/b7nTKWcuk6
— Holger Zschaepitz (@Schuldensuehner)
Jun 26, 2025

Good Morning from #Germany, where this week’s federal budget shows the govt still isn’t grasping the seriousness of the situation. Social spending is set to grow faster than the overall budget through 2029. Yet, as the German Council of Economic Experts has pointed out, https://t.co/kysOKjJTFq
— Holger Zschaepitz (@Schuldensuehner)
Jun 28, 2025

#Germany’s trade surplus grew to €18.4bn in May, up from €15.7bn in April. While exports dropped by 1.4% MoM, imports declined even more sharply—by 3.8%—widening the surplus. https://t.co/nzuZd4Oj07
— Holger Zschaepitz (@Schuldensuehner)
Jul 8, 2025

Good Morning from #Germany, where bond markets are starting to show signs of nervousness about the growing debt burden. You can see it in real long-term interest rates: 10y real yields (nominal rates minus inflation expectations) have climbed above 0.93% — the highest level since https://t.co/uV2IJeKSVm
— Holger Zschaepitz (@Schuldensuehner)
Jul 9, 2025

Good Morning from #Germany, which remains one of the few AAA countries in the world. Fitch affirms Germany’s top rating w/a stable outlook. Despite €850bn in new spending plans & rising debt (to 70.4% of GDP by 2029 from 62.5% in 2024), strong institutions, fiscal credibility, https://t.co/bQlKYiGWaF
— Holger Zschaepitz (@Schuldensuehner)
Jul 12, 2025

Good Morning from #Germany – the country that stands to lose the most from a potential 30% US import tariff on European goods. Over the past 12mths, Germany recorded a trade surplus of €68.8bn w/the US, though that surplus has already started to decline slightly. https://t.co/s6FW3Tr5mR
— Holger Zschaepitz (@Schuldensuehner)
Jul 13, 2025

Good Morning from #Germany, where foreign investors now hold 48% of the country’s €2.69tn in govt debt, acc to Bloomberg Intelligence. That’s nearly double the share in Italy, but roughly in line with other major EU economies like France.
While this is a notable figure, it’s https://t.co/zxTf8JLqZf
— Holger Zschaepitz (@Schuldensuehner)
Jul 17, 2025

Good Morning from #Germany, which has rejected the EU’s proposed €2tn budget. The objection isn’t just about the size – Germany would cover about a quarter of the total – but also about the plan to introduce a corporate substance tax, which Berlin argues would do little to boost https://t.co/hYR89qrNyt
— Holger Zschaepitz (@Schuldensuehner)
Jul 19, 2025

Good Morning from #Germany, where over 60 of the country’s top companies have kicked off a major new investment push worth at least €100bn. The goal: to help revive Europe’s largest economy, which has been stuck in a prolonged slump.
One of the biggest concerns is that business https://t.co/uOTgqRmCjw
— Holger Zschaepitz (@Schuldensuehner)
Jul 21, 2025

Good Morning from #Germany, where consumer confidence is slipping due to ongoing economic uncertainty and frustration w/the new political coalition. The GfK consumer climate index dropped for the 2nd straight month, falling to -21.5 in the Aug forecast – down 1.2 points from Jul. https://t.co/J9YQZALdKT
— Holger Zschaepitz (@Schuldensuehner)
Jul 24, 2025

Good Morning from #Germany, where Deutsche Bank just reported its highest profit since 2007. But on the global stage, it’s still falling behind. With a market value of just $65bn, Deutsche pales in comparison to giants like JPMorgan, which is closing in on a $1tn valuation. Even https://t.co/fEKtyFLiH4
— Holger Zschaepitz (@Schuldensuehner)
Jul 26, 2025

Good Morning from #Germany, where hopes are high for a quick trade deal w/the US ahead of next Friday’s deadline. With a trade surplus of €69bn, Germany is even willing to accept an asymmetrical deal — one where European exports face a 15% US tariff, while American goods enter https://t.co/JdoL8wHv36
— Holger Zschaepitz (@Schuldensuehner)
Jul 27, 2025

Good Morning from #Germany, for which Goldman Sachs has slightly raised its growth outlook following the EU-US trade deal.
Goldman still expects 0.3% GDP growth for this year, which is slightly above the market consensus. However, for 2026, the forecast has been raised from 1.4% https://t.co/Vafd5xFiok
— Holger Zschaepitz (@Schuldensuehner)
Jul 29, 2025