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Thomas Gitzel, chief economist at VP Bank, has been recognized as one of Germany's most influential economists, ranking 55th among the top 100. He excels in media presence, particularly in the areas of business cycles and industries, where he ranks 9th. VP Bank emphasizes immediate market responses and insightful assessments for clients, reflecting their commitment to economic analysis.
VP Bank's chief economist, Thomas Gitzel, has been recognized as one of the most influential economists in Germany, ranking 55th in a top 100 list compiled by Media Tenor. He excels in media presence, particularly in the "Business cycle" and "Companies/industries" categories, where he ranks 9th. Gitzel's insights on major economic developments and their impacts are a testament to the effective teamwork at VP Bank Research.
Thomas Gitzel, Chief Economist at VP Bank, has been recognized as one of Germany's most influential economists, ranking 55th among the top 100. He is also in the top 10 for media citations in "Business cycle" and "Companies/industries," and ranks 24th overall for media presence. Gitzel's insights on key economic developments reflect the strong teamwork at VP Bank Research, emphasizing their commitment to timely market analysis.
German government bond prices remained stable, with the benchmark Euro-Bund futures contract slightly up at 131.81 points and a ten-year Bund yield at 2.38 percent. In the US, inflation rose to 2.6 percent in October, contrary to expectations, which may influence the Federal Reserve's interest rate decisions amid ongoing uncertainty regarding tariff policies. Further interest rate cuts are anticipated, with a reduction of 0.25 percentage points expected in December.
German government bond prices remained stable, with the benchmark Euro-Bund futures contract slightly up at 131.81 points and a ten-year Bund yield at 2.38 percent. In the US, inflation rose to 2.6 percent in October, contrary to expectations, which may influence the Federal Reserve's interest rate decisions amid ongoing uncertainty regarding tariff policies.
US inflation rose from 2.4% to 2.6% in October, with the core rate unchanged at 3.3%. Rents and imputed owner-occupied rents, which account for nearly 70% of consumer price increases, remain significant drivers. Despite the rise, a disinflation process is expected to continue, with the Fed likely to cut interest rates by 25 basis points in December.
Inflation in the USA has risen to 2.6%, driven by a 4.6% increase in housing costs, particularly rents, along with higher prices for used cars and airline tickets. Economists warn that incoming tariffs on imports from China and the EU could further escalate inflation, impacting consumer goods significantly.
IG Metall has secured a 5.5% wage increase for 3.9 million employees in the German metal and electrical industry over the next two years, with a 2% rise effective April 1, 2025, followed by 3.1% a year later. Additionally, workers will receive a one-off payment of 600 euros by February 2025. The agreement reflects a shift towards job security amid economic challenges in the sector.
Germany's export economy is struggling, with a 1.7% drop in September exports compared to August, amid rising global competition and high energy costs. Industrial production also fell sharply by 2.5%, raising concerns about the impact of potential US protectionism following Donald Trump's re-election. Economists warn that without swift political action, Germany faces a challenging economic outlook.
Germany's export economy is struggling, with a 1.7% drop in September exports compared to August, amid rising competition and high energy costs. Industrial production also fell sharply by 2.5%, raising concerns about the impact of potential US protectionism under Trump's re-election. Economists warn that urgent reforms are needed, but political instability following the collapse of the coalition government may hinder necessary actions.
Thomas Gitzel
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