US construction boom sends European lumber prices soaring
Lumber scarcity or not?
Against the backdrop of this multifaceted situation, many German buyers and end users of lumber products feel there might not be enough left for them on the home market. There s no lack of media reports on people failing to get their hands on enough lumber for their businesses. The current hype in the US has been spilling over to Germany, and some market participants are hoarding lumber, filling their storehouses beyond their own needs, speculating on further price hikes and thus making that excess wood unavailable for others, Merforth commented.
Updated / Tuesday, 11 May 2021
11:03
The ZEW economic research institute said its survey of investors economic sentiment rose to 84.4 points in May from 70.7 in April
German investor sentiment surged in May to its highest level since the start of the Covid-19 pandemic thanks to a third wave tailing off, pointing to a big upswing in Europe s largest economy in the coming six months.
The ZEW economic research institute said its survey of investors economic sentiment rose to 84.4 points from 70.7 the prior month.
The last time it hit a higher level was in February 2000. A Reuters poll had forecast a rise to 72. The slowing down of the third Covid-19 wave has made financial market experts even more optimistic, ZEW President Achim Wambach said in a statement.
EuropeGerman insolvencies fall further, new cases also ease
Reuters
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A general view of the Oberbaum Bridge at the Spree river, as the spread of the coronavirus disease (COVID-19) continues in Berlin, Germany, April 18, 2020. REUTERS/Christian Mang
Corporate insolvencies in Germany fell by 21.8% on the year in February, the Federal Statistics Office said on Tuesday, continuing a downtrend since the introduction of a waiver at the start of the pandemic.
Germany let firms that were struggling with the crisis delay filing for bankruptcy from March last year - though critics said the policy would only end up propping up zombie companies with no viable future.