• About Us
  • Contact Us
  • Cookie policy (EU)
  • Home
  • Privacy Policy
  • Video
  • Write for us
Today Headline
  • HOME
  • NEWS
    • POLITICS
    • News for today
    • Borisov news
  • FINANCE
    • Business
    • Insurance
  • Video
  • TECHNOLOGY
  • ENTERPRISE
  • LIFESTYLE
    • TRAVEL
    • HEALTH
    • ENTERTAINMENT
  • AUTOMOTIVE
  • SPORTS
  • Travel and Tourism
  • HOME
  • NEWS
    • POLITICS
    • News for today
    • Borisov news
  • FINANCE
    • Business
    • Insurance
  • Video
  • TECHNOLOGY
  • ENTERPRISE
  • LIFESTYLE
    • TRAVEL
    • HEALTH
    • ENTERTAINMENT
  • AUTOMOTIVE
  • SPORTS
  • Travel and Tourism
No Result
View All Result
TodayHeadline
No Result
View All Result

German economy grinds to a halt as Omicron hammers the eurozone 

January 12, 2022
in Business
0
German economy grinds to a halt as Omicron hammers the eurozone 
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter


Germany’s economic recovery grinds to a halt as Omicron hammers the eurozone

By Hugo Duncan for the Daily Mail

Published: 5:11 PM EST, 5 January 2022 | Updated: 5:36 PM EST, 5 January 2022










The German economy ground to a halt at the end of last year as the spread of the Omicron Covid variant hammered the eurozone.

IHS Markit said its index of private sector activity in Germany – where 50 is the cut off between growth and decline – fell to an 18-month low of 49.9 in December.

That suggested that Europe’s largest economy contracted very slightly at the end of 2021 as Omicron hammered business.

Slowdown: Data from IHS Market suggests that the German economy contracted very slightly at the end of 2021, when the eurozone as a whole saw its weakest growth since March 2021

Slowdown: Data from IHS Market suggests that the German economy contracted very slightly at the end of 2021, when the eurozone as a whole saw its weakest growth since March 2021

The eurozone as a whole clocked up a score of 53.3 – the weakest since March 2021 – as Spain, Italy and France also suffered alongside Germany.

The recovery in the UK is also set to have slowed in December as people worked from home and a wave of Christmas parties were called off.

However, early yesterday the pound hit its highest level against the euro since February 2020, leading to hopes of a rebound as fears over Omicron ease.

With the Bank of England expected to raise interest rates again in the coming weeks, following the first hike for three years last month, sterling touched €1.1994 before drifting lower.

By contrast, the European Central Bank is not expected to raise rates in the sclerotic eurozone for some time.

Joe Hayes, senior economist at IHS Markit, said: ‘Amid a resurgence of Covid-19 infections across the euro area, growth slowed to the weakest since March.

In Germany, where measures to combat Covid-19 have been more stringent than other monitored euro area countries, levels of economic activity broadly stagnated. Nonetheless, slower growth was seen across the board.

‘The spread of the Omicron variant had a particularly profound impact on the services sector, reflecting renewed hesitancy among customers.’

Advertisement

Share or comment on this article:

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.

Tags: economyeurozoneGermanGrindshaltHammersOmicron
Previous Post

Matildas ‘priding ourselves’ on defence ahead of Asian Cup – FTBL | The home of football in Australia – The Women’s Game

Next Post

Ben Affleck doesn’t regret ‘Gigli.’ After all, he met Jennifer Lopez

Related Posts

Paysafe Limited (PSFE) CEO Philip McHugh on Q2 2021 Results – Earnings Call Transcript
Business

ZTO Express (Cayman) Inc. 2022 Q2 – Results – Earnings Call Presentation (NYSE:ZTO)

This article was written byFollowSeeking...

Read more
What is Don’t Pay UK and what happens if I cancel my energy bill payment?
Business

What is Don’t Pay UK and what happens if I cancel my energy bill payment?

Energy bills are a huge...

Read more
‘Have faith people will love what you do’: startup founders reveal seven tips for success | How retail got real
Business

‘Have faith people will love what you do’: startup founders reveal seven tips for success | How retail got real

Do your researchYou can wobble...

Read more
Business Owners
Business

Is Education And Development Important For Small Business Owners?

Fortunately for many people, it’s...

Read more
Fund managers are no longer ‘apocalyptically bearish,’ BofA says after latest poll
Business

Fund managers are no longer ‘apocalyptically bearish,’ BofA says after latest poll

Fund managers are no longer...

Read more
Load More
Next Post
Ben Affleck doesn’t regret ‘Gigli.’ After all, he met Jennifer Lopez

Ben Affleck doesn't regret 'Gigli.' After all, he met Jennifer Lopez

  • Trending
  • Comments
  • Latest
Collapsed Doggy sex position promises clitoral stimulation for extra pleasure

Collapsed Doggy sex position promises clitoral stimulation for extra pleasure

Who are Liz Cheney’s children?

Six times actors really romped in sex scenes that make 365 DNI look tame

Six times actors really romped in sex scenes that make 365 DNI look tame

Do Sex Dolls Feel Real? – Answering Important Questions 

Tips For Growing Growing Peonies In Pots

Tips For Growing Growing Peonies In Pots

How to Get a Puppy to Stop Biting – Dogster

How to Get a Puppy to Stop Biting – Dogster

Karine Jean-Pierre gives update on Biden's 2024 intentions, monkeypox and more

What does verified mean on TikTok and how do I get the badge?

What does verified mean on TikTok and how do I get the badge?

About Us

Todayheadline the independent news and topics discovery
A home-grown and independent news and topic aggregation . displays breaking news linking to news websites all around the world.

Follow Us

Latest News

Tips For Growing Growing Peonies In Pots

Tips For Growing Growing Peonies In Pots

How to Get a Puppy to Stop Biting – Dogster

How to Get a Puppy to Stop Biting – Dogster

Tips For Growing Growing Peonies In Pots

Tips For Growing Growing Peonies In Pots

How to Get a Puppy to Stop Biting – Dogster

How to Get a Puppy to Stop Biting – Dogster

Karine Jean-Pierre gives update on Biden's 2024 intentions, monkeypox and more

  • Real Estate
  • Education
  • Parenting
  • Cooking
  • NFL Games On TV Today
  • Travel and Tourism
  • Home & Garden
  • Pets
  • Privacy & Policy
  • Contact
  • About

© 2021 All rights are reserved Todayheadline

No Result
View All Result
  • Real Estate
  • Education
  • Parenting
  • Cooking
  • NFL Games On TV Today
  • Travel and Tourism
  • Home & Garden
  • Pets
  • Privacy & Policy
  • Contact
  • About

© 2021 All rights are reserved Todayheadline

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist