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Germany’s economic recovery loses momentum as daily cases spike above 5,000

Germany’s economic recovery loses momentum as daily cases spike above 5,000

  • Germany’s growth prospects for 2020 are looking increasingly bleak, with the country’s leading economic research institutes downgrading GDP forecasts for 2020 and beyond.
  • Publishing a joint economic forecast Wednesday, Germany’s leading economists warned that the coronavirus pandemic is leaving what they called “substantial marks” on the German economy.
  • The impact of the virus “is more persistent than assumed in spring.”



a person holding a sign: Advertising figures with a protective face masks in Munich, Germany.


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Advertising figures with a protective face masks in Munich, Germany.

Germany’s economic prospects for 2020 are looking increasingly bleak, with the country’s leading research institutes downgrading GDP (gross domestic product) forecasts for this year and beyond.

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Publishing a joint economic forecast Wednesday, Germany’s prominent economists warned that the coronavirus pandemic is leaving what they called “substantial marks” on the German economy, adding that “its impact is more persistent than assumed in spring.”

They revised their economic outlook downward by roughly one percentage point for both 2020 and 2021. They now expect GDP to fall by 5.4% in 2020 (lower than a previous -4.2% forecast) and to grow by 4.7% (less than a previously forecast 5.8%) in 2021, and 2.7% in 2022.

The “Joint Economic Forecast” is published twice a year on behalf of the German Economy Ministry and is prepared by the German Institute for Economic Research (DIW Berlin) and the Ifo Institute in Munich, as well as several other organizations.

They said the downgrade follows a more pessimistic assessment of the recovery process. “Although a substantial part of the drop in output experienced in spring has already been recovered, the remaining catch-up process is the more difficult part of the return to normality,” Stefan Kooths, head of forecasting at the Kiel Institute, said on the outlook.

The downgrades are not surprising given a second wave of coronavirus cases that is ravaging Europe and

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Daily Mirror – SLT partners with Land Maark Engineering to provide telecommunication solutions to latest condominiums

Daily Mirror – SLT partners with Land Maark Engineering to provide telecommunication solutions to latest condominiums



Participants at the agreement signing, from left to right include: from Land Maark Engineering Ms. Sridhukshika Srimanoharan (Project Engineer), Mr. Vettivel Vaheeswaran (Project Coordinator), Mr. Thanikasalampillai Nanthanan (Chairman / Managing Director). From SLT – Mr Kiththi Perera (CEO), Mr Imantha Wijekoon (Chief Sales and Regional Officer), Mr Chethana Attanayake (General Manager), Ms Chithra Kumari  (Senior Executive Assistant Manager).

Sri Lanka Telecom (SLT) recently signed a partnership with Land Maark Engineering, one of the leading condominium developers in the country. Accordingly, SLT will provide telecommunication infrastructure and services to the Land Maark Towers situated in Colombo 6, Dehiwala and Mount Lavinia.

SLT will be instrumental in facilitating the infrastructure and all its telecommunication services to Land Maark Towers and the occupants of the buildings. This will also include enabling in-building solutions through its mobile telecommunication arm, Mobitel. 

The agreement was signed by Mr Kiththi Perera – Chief Executive Officer and Mr Imantha Wijekoon – Chief Sales and Regional Officer on behalf of SLT, and Mr T. Nanthanan – Managing Director of Land Maark Engineering (Pvt) Ltd.  

Land Maark condominium are built on the principle of sustainability allowing plenty of daylight and natural ventilation to conserve energy. Built on a legacy of trust and integrity, Land Maark condominiums are known for using superior technology and building material, with a trusted name in the island.

No luxury apartment is completed without a state-of-the-art ICT infrastructure in place, which is where SLT steps in; to power the residents with telecommunications services, ultra-fast broadband connectivity provided through fibre technology as well as the next revolution in entertainment television, PEO TV. SLT will provide the backbone necessary for a Smart Building that will transform ordinary lives of residents into truly digital lifestyles in the near future. 

“As an industry that has been contributing largely to

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ATOM/USD’s daily chart looks constructive, $8 back in sight

ATOM/USD’s daily chart looks constructive, $8 back in sight

  • Cosmos challenging critical resistance near $5.85 region.
  • The No. 21 coin charts a symmetrical triangle breakout on daily sticks
  • ATOM/USD’s path of least resistance is to the upside.

Cosmos (ATOM/USD) hovers near six-week highs of $5.86, consolidating the five-day winning streak on Sunday.

Despite a pause in the rally over the last hour, the bullish momentum remains intact amid a symmetrical triangle pattern confirmed on the daily chart on Saturday.

A decisive break above the horizontal 50-daily moving average (DMA) seen earlier on the day, bolstered the bullish sentiment around Cosmos.

Note that the spot last closed above the said resistance on September 12. Therefore, buyers eye a daily closing above 50-DMA to create fresh long positions. The 14-day Relative Strength Index edges higher above the 50 level, allowing more gains.

Following the triangle breakout above the $5.20 hurdle, the bulls now gather pace for a test of the pattern target aligned just above the $8 mark over the coming weeks.

Ahead of that level, the September 3 high of $6.73 could probably be challenged.

To the downside, the immediate cushion awaits at the pattern resistance-turned-support, currently at $5.16.

The next cap is aligned at the confluence zone of the 21 and 100-DMAs around $4.95. The latter is the last hope for the ATOM bulls.

ATOM/USD: Daily chart

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Enterprise Daily Africa

Enterprise Daily Africa

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