Kaum Fortschritt bei den strukturellen Problemen der Wirtschaft
Industriestimmung hellt sich auf, Konsum bleibt unter Druck
Sorgen um Bonität am Anleihemarkt, aber Mid Caps könnten von Erholung profitieren
Ein Jahr nach der Lockerung der Schuldenbremse und dem Beschluss milliardenschwerer Investitionsprogramme beschleunigt sich das Wachstum in Deutschland leicht: Der Rückstand beim BIP-Wachstum gegenüber anderen europäischen Ländern verringert sich. Ob das reicht, um aus der bisherigen Stagnation auszubrechen, bleibt für Tilmann Galler, Kapitalmarktstratege bei J.P. Morgan Asset Management, allerdings fraglich. Denn strukturelle Faktoren sorgen für Gegenwind, etwa eine Exportwirtschaft in der Defensive, hohe Energiekosten, Regulierung, Lohnkosten und die demografische Situation. „Der Exportmotor Deutschland stottert,
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