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Switzerland is experiencing economic challenges due to a slowdown in Germany, its primary trading partner, according to Swiss National Bank President Martin Schlegel. He noted that the decline in German industrial demand is significantly impacting Swiss industries, likening the situation to Germany having a cold while Switzerland suffers from the flu.
Germany's central bank is closely monitoring risks associated with commercial property investments amid a weak economic outlook. While losses on loans are primarily concentrated among a few banks and insurers, liquidity risks in open-ended funds could exacerbate the situation.
Economists express caution regarding the unexpected 0.2% growth of the German economy in Q3, labeling it an "upward outlier." Despite slight growth driven by government and consumer spending, indicators suggest a challenging winter ahead, with stagnation expected in Q4 and a projected GDP decline of 0.2% for the year.
Bundesbank President Joachim Nagel criticized Russia's calls for international cooperation during the G20, labeling them a mockery in light of its invasion of Ukraine in 2022. He attributed part of Germany's economic downturn to the war, noting that the decline began in spring 2022, directly linked to the conflict.
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swiss economy impacted by german industrial weakness says snb president
14:14 30.11.2024
bundesbank warns of commercial property risks amid weak economic outlook
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economists express caution despite slight growth in german economy
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04:33 31.10.2024
Russia's call for cooperation mocked amid Ukraine invasion impact on Germany
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