Overview

• German exports fell 1.7 percent in April, driven by a 10.5 percent slump in shipments to the USA after new US tariffs took effect
• Industrial orders climbed 0.6 percent in April, marking a second straight monthly increase led by data processing, electronic and optical equipment
• Bundesbank President Joachim Nagel attributes the stagnation forecast for 2025 to trade policy uncertainty stemming from US tariff measures
• The central bank expects a 0.7 percent GDP rebound in 2026, underpinned by planned government spending on infrastructure and defence
• Labour agency chief Andrea Nahles warns that US tariffs could cost up to 90,000 jobs in Germany within a year