dpa-AFX overview: ECONOMY from 02/22/2021 – 5.15 p.m. | message


ROUNDUP: Ifo business climate brightens despite lockdown

MNCHEN –  The  mood in German companies brightened in February despite Corona restrictions. Compared to the previous month, the Ifo business climate rose by 2.1 points to 92.4 points, as the Ifo Institute announced on Monday in Munich. That is the highest level since October. Analysts had expected an improvement, but only a minor one to 90.5 points.

ROUNDUP: Merkel wants a package solution for openings – the number of infections is increasing

BERLIN – An end to the corona lockdown in Germany is not in sight for the time being, given the further spread of the more contagious virus variants. Chancellor Angela Merkel (CDU) spoke out in favor of a strategy of opening up various areas in packages and at the same time urged caution. Numerous day-care centers and schools started on Monday in ten federal states. In order to safeguard this opening step, educators and teachers should probably move forward in the vaccination sequence. In addition, more tests should help to bring the coronavirus back under control.

Lagarde: ECB is closely monitoring long-term bond yields

FRANKFURT – According to President Christine Lagarde, the European Central Bank (ECB) wants to keep financing conditions favorable in the pandemic. “© www.de24.news

 The  ECB is therefore closely monitoring the development of the longer-term nominal bond yields,” said Lagarde on Monday at an event of the European Parliament. © www.de24.news

 The se would have an impact on banks’ lending to businesses and households. Yields are an early indicator of the impact of monetary policy.

London wants to lift all corona measures by the end of June

LONDON – © www.de24.news

 The  UK government wants to lift all restrictions on the coronavirus pandemic in England by June 21st. British Prime Minister Boris Johnson said on Monday when he presented his lockdown schedule in the British House of Commons in London.

USA: leading indicators continue recovery

WASHINGTON – © www.de24.news

 The  economic outlook in the US improved again in January. © www.de24.news

 The  composite index of economic early indicators rose by 0.5 percent compared to the previous month, as the private research institute Conference Board announced on Monday in Washington. Economists had only expected an increase of 0.4 percent. In addition, the increase in December was revised upwards from 0.3 percent to 0.4 percent.

Belgium: © www.de24.news

 The  business climate is surprisingly brightening up

BRSSEL – In Belgium, the business climate brightened surprisingly significantly in February. © www.de24.news

 The  indicator rose from minus 7.5 points in January to minus 4.4 points, as the Belgian central bank (BNB) announced in Brussels on Monday. Economists had only expected an increase to minus 7.0 points. It is the third rise in the leading indicator in a row.

ROUNDUP / Bundesbank: More and more credit institutions are charging negative interest rates

FRANKFURT – A growing number of credit institutions are passing the penalty interest of the European Central Bank (ECB) on to customers. “© www.de24.news

 The  proportion of banks in Germany that rate their customer deposits negatively on average continued to increase in 2020,” according to the monthly report published by the Deutsche Bundesbank on Monday.

Bundesbank: economy back on track for recovery from spring

FRANKFURT – After a setback at the beginning of the year, the Bundesbank believes that the German economy should pick up speed again this spring. “With the number of infections falling, the wider availability of vaccines and the gradual relaxation of containment measures, the current braking factors … should gradually disappear,” said the February monthly report, which the central bank published on Monday. “© www.de24.news

 The  economy is therefore likely to return to a significantly higher level of performance from spring and resume its recovery course.”

Sder sees a growing risk of a third corona wave

MNCHEN – CSU boss Markus Sder sees the growing danger of a third corona wave in Germany. If the British virus variant, which is considered to be much more contagious, becomes the dominant one, it will become more and more difficult to get the right balance, said the Bavarian Prime Minister on Monday before a meeting of the CSU board in Munich. Since the beginning of the year, the proportion of detected British virus mutations in the Free State has increased from 5 to 28 percent. A week ago, the proportion was 20 percent.

2 / ROUNDUP / DIW boss: Economic recovery incompatible with debt brake

BERLIN – DIW boss Marcel Fratzscher sees no cause for concern in the rise in national debt in the corona crisis. “Since the interest rates will remain low in the long term, servicing the corona loans costs the state practically nothing or even generates interest income in the case of negative interest rates,” said the President of the German Institute for Economic Research (DIW) of the German Press Agency .

Copper price rises to its highest level in ten years

LONDON – Metal prices continue to soar. On Monday, the price of a ton of copper on the commodity exchange in London rose to around 9270 US dollars. That is the highest level in about ten years. © www.de24.news

 The  record high from 2011 of just under 10,200 dollars is therefore increasingly within reach. © www.de24.news

 The  price of nickel passed the $ 20,000 per ton mark for the first time in about seven years.

Customer note:

ROUNDUP: You are reading a summary in the economic overview. © www.de24.news

 The re are several reports on this topic on the dpa-AFX news service.

/ jsl

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