Key View

• We at Fitch Solutions now expect the centre-left SPD will win the German federal election on September 26 and form the next federal government.
• This will lead to policy-shifts in some areas of the economy, including tax increases and accelerating the pace of decarbonisation over the coming years, though major compromises will be

Key View

• We at Fitch Solutions believe that the CDU/CSU and the Green Party are likely to form an uneasy coalition following the upcoming German election.

• Important differences in healthcare policies will remain between parties, with issues including whether to reform Germany’s health insurance system; the role and funding of regional

Key View

• The German construction sector will post a timely recovery to positive real growth territory during 2021, 3.1% y-o-y, having suffered a shallower downturn during 2020 relative to other markets across Western Europe.
• Activity in the residential and non-residential sector, which has continued largely unfazed by the pandemic and the

Key View

• Economic recession will take a heavy toll on client loans growth in Germany, only partially tempered by accommodative monetary policy conditions until at least the end of 2021.
• At Fitch Solutions, we are now forecasting client loans to expand by 0.8% in 2020 and by 1.2% in 2021, down from 5.2% in 2019.
• Over the next three months

Key View

• We at Fitch Solutions believe the ruling Christian Democratic Union (CDU) will benefit from Germany’s response to the Covid-19 pandemic, which will likely remain effective even in the event of a second wave of Covid-19 cases, owing to a high degree of compliance from the public.
• The looming CDU leadership election (December 3-5 2020)

Key View

• Europe's diagnostic imaging installed base has consistently aged over the last decade and most countries fail to meet guidelines set out by COCIR.
• Germany holds some of the largest shares of diagnostic imaging equipment over 10 years old and its installed base is in need of updating and replacing with the latest technology.
• As