More jobs, higher wages and strong growth. That's the latest economic outlook from the German government. Europe's biggest economy is set to grow by 1.8 percent this year and 2 percent next.
Europe's biggest economy shrank 0.2 percent in the third quarter compared to the previous period. Economists are not worried and believe it is just a temporary slip.
Chinese shoppers have spent more than $30 billion online during the annual shopping binge, breaking last year's record. The massive spending comes despite an ongoing trade war with the US.
An oil crunch is looming on the horizon in the absence of government intervention and unprecedented output increases, the IEA said. One scenario anticipates peak oil in 2040.
A slowdown in the German economy in the third quarter has raised recession fears. Economy Minister Peter Altmaier thinks a package of tax cuts and other measures are needed to shore up future economic growth.
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