Gedämpftes Wachstum, stabile Finanzierung

The economic upturn in Germany received a severe setback in the third quarter of this year: overall economic output fell by 0.2% compared with the previous quarter. The decline in overall economic output was mainly attributable to a sharp decline in automobile production. But not alone, because overall, demand from the emerging markets has declined following German exports. Global production chains are also beginning to show the first effects of US trade-fueled trade conflicts.

The American isolation policy with punitive tariffs and unilaterally granted sanctions represents an increasing danger for world trade. Political solutions for this conflict are needed, but currently no short-term solution seems conceivable.

Notwithstanding these economic and political challenges, the financing situation of companies in Germany in the third quarter of 2018 is extremely favorable.

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Notwithstanding these economic and political challenges, the financing situation of companies in Germany in the third quarter of 2018 is extremely favorable.

Notwithstanding these economic and political challenges, the financing situation of companies in Germany in the third quarter of 2018 is extremely favorable.

Notwithstanding these economic and political challenges, the financing situation of companies in Germany in the third quarter of 2018 is extremely favorable.

Notwithstanding these economic and political challenges, the financing situation of companies in Germany in the third quarter of 2018 is extremely favorable.

Notwithstanding these economic and political challenges, the financing situation of companies in Germany in the third quarter of 2018 is extremely favorable.