Germany

Stock market between ups and downs, can country overcome global crisis?

The German stock index fell sharply. In the first week of February, Germany’s DAX index fell to 0.15 % (i.e. at a point of 9,114). Yet, it recorded an increase during last December sessions, stopping at a point of 9,680.0. In January, It continued rising by 0.29 % and recorded 9,744 points. Trade surplus in Germany mounts to €198.9 billion in 2013 after it was 189.8 billion in 2012, hitting a record despite the slight decline that it witnessed during December. Indeed, the manufacturing sector led the growth, for the private sector witnessed its fastest pace since the beginning of this year. Unemployment rate in Germany increased by 263,000 and reached 3.136 million in January. In December, it declined by 15,000, reaching 2.965 million, which is considered the biggest drop in almost two years. While the unemployment rate stood at 6.9 %, this, according to economic estimates, was due to the stoppage of work at the construction sites because of the cold weather waiting for the re- launch in spring. Berlin hosted on March 11, 12 and 13 the events of the second forum on GCC Business and Investment, with the participation of about 400 high-level decision makers of the GCC countries and Germany. The attendees discussed cooperation possibilities, reinforcement of business networks, establishment of new partnerships in the fields of “logistics, construction, energy, water, finance, health sector and education, joint investments and technology transfer.” The volume of trade exchange between both countries is around $35 billion annually.