CNBC Daily Open: Investors still aren’t convinced by bitcoin

Germany's business activity contracted sharply in August, causing concerns about the country's economy, and its plans to be carbon-neutral by 2045 pose a risk to its industry, according to Hans-Werner Sinn, president emeritus at the Ifo institute.

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Relevant topic timeline:

8/23/2023

Germany August flash manufacturing PMI 39.1 vs 38.7 expected

German business activity, particularly in the services sector, experienced its sharpest decline since May 2020, leading to concerns about the country's outlook for the remainder of the year and potential stagflation, as both manufacturing and services sectors are contracting.

8/23/2023

German business activity suffers steepest decline since May 2020

German business activity contracted at its fastest rate in over three years in August, with both the services and manufacturing sectors experiencing a downturn, as rising interest rates, customer uncertainty, and high inflation weighed on demand for goods and services.

9/11/2023

Germany Only Major EU Economy Expected to Contract in 2023 Amid Energy Transition and Manufacturing Struggles

Germany is predicted to experience a prolonged recession this year, making it the only major European economy to contract in 2023, according to the European Commission, with its growth expectations also being cut for 2024; this is attributed to struggles following Russia's invasion of Ukraine and the need to end energy dependency on Moscow.

9/18/2023

German economy faces recession risk as industry struggles and consumers pull back

The German economy is expected to contract this quarter due to a recession in the industry and lackluster private consumption, leading to four consecutive quarters of negative or flat growth.

9/19/2023

Germany Faces Economic Contraction Due to Manufacturing Woes, Energy Costs

Germany is facing an economic contraction due to challenges in the manufacturing sector, a disappointing China reopening boost, and higher energy costs, leading to a recession in Europe's largest economy. However, there are still some positive aspects, such as opportunities in Germany's small and mid-sized companies.

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Posted 9/4/2023, 11:42:16 PM

CNBC Daily Open: Investors still aren’t convinced by bitcoin

cnbc.com

Relevant topic timeline:

8/23/2023

Germany August flash manufacturing PMI 39.1 vs 38.7 expected

8/23/2023

German business activity suffers steepest decline since May 2020

9/11/2023

Germany Only Major EU Economy Expected to Contract in 2023 Amid Energy Transition and Manufacturing Struggles

9/18/2023

German economy faces recession risk as industry struggles and consumers pull back

The German economy is expected to contract this quarter due to a recession in the industry and lackluster private consumption, leading to four consecutive quarters of negative or flat growth.

9/19/2023

Germany Faces Economic Contraction Due to Manufacturing Woes, Energy Costs