Fashion
German GDP stagnates QoQ, up 0.3% YoY in Q3 2025: Destatis
“Weak exports had a dampening effect on economic activity in the third quarter, while capital formation increased slightly,” said Destatis president Ruth Brand in a release.
GDP in Q3 2025 was up by a price-adjusted 0.3 per cent year on year (YoY). It was also up by 0.3 per cent YoY after price and calendar adjustment.
German GDP stagnated quarter on quarter (QoQ) in Q3 2025 after adjustment for price, seasonal and calendar variations.
GDP in the quarter was up by 0.3 per cent YoY.
Weak exports had a dampening effect on economic activity in the quarter.
Goods exports dropped by 0.1 per cent QoQ and 0.2 per cent YoY.
Goods imports were up by 0.9 per cent QoQ and 5.4 per cent YoY in Q3 2025.
After registering a decline in the previous quarter, gross fixed capital formation increased again in Q3 2025 by 0.3 per cent after price, seasonal and calendar adjustment. Gross fixed capital formation in machinery and equipment was up 1.1 per cent QoQ.
Overall, final consumption expenditure stagnated QoQ in Q3 2025. Diverging trends were recorded for household and government final consumption expenditure.
Household consumption expenditure declined for the first time since Q4 2023, while government final consumption expenditure increased again QoQ.
Price-adjusted final consumption expenditure in Q3 2025 was up YoY by 1.1 per cent. Final consumption expenditure of both households and government showed a positive trend.
Foreign trade did not make a positive contribution here. In Q3 2025, total exports of goods and services were down by 0.7 per cent QoQ after price, seasonal and calendar adjustment. Goods exports dropped only slightly by 0.1 per cent QoQ.
Imports of goods and services remained at the level of the previous quarter, with imports of goods up by 0.9 per cent QoQ.
Exports were down YoY, while imports were up. Exports (price-adjusted) fell slightly by 0.1 per cent YoY, while exports of goods declined by 0.2 per cent YoY.
Imports of goods and services continued to increase substantially (plus 3.4 per cent), with imports of goods rising by 5.4 per cent YoY in Q3 2025.
The gross value added (GVA) increased slightly by 0.1 per cent QoQ in Q3 2025 after adjustment for price, seasonal and calendar variations. The biggest decline was seen in manufacturing (minus 0.9 per cent), with economic performance down quarter on quarter in many areas. Price-adjusted GVA in Q3 2025 was up by 0.3 per cent YoY.
At the start of the second half of the year, Germany’s economic performance was lower than that of many other countries.
Fibre2Fashion News Desk (DS)
May 2026 cotton settled at 64.59 cents per pound, down 1.02 cents. This marked the lowest settlement price for May contract since February 20, effectively erasing all gains made over that period.
Cotton futures on Intercontinental Exchange (ICE) fell over 1 per cent, with May 2026 settling at 64.59 cents/lb, the lowest since Feb 20, amid Middle East tensions and a stronger US dollar.
Rising inventories and risk aversion pressured prices.
Speculators cut net shorts, while crude oil surged.
ICE cotton traded mixed in early Indian hours today.
Total trading volume for the session came in at 73,225 contracts. ICE-certified deliverable No. 2 cotton inventory rose to 126,178 bales as of February 26, up from 119,457 bales the previous trading day.
The US dollar climbed to its highest level in over a month, making dollar-denominated commodities like cotton more expensive for international buyers and reducing export demand.
Market analysts stated that the Middle East conflict is putting significant pressure on cotton and that a broader risk-aversion tone is affecting the market.
On March 2, Iran continued launching attacks on US military bases across multiple countries in the Middle East, with explosions reported in several locations. An advisor to the Iranian Islamic Revolutionary Guard Corps commander announced that the Strait of Hormuz had been closed, with Iran threatening to strike any vessels attempting to pass through it.
US President Trump indicated that military action against Iran could last four to five weeks, while also expressing readiness for operations to extend considerably longer.
Major Wall Street indices declined on Monday as the conflict raised fears of disrupted global trade routes and renewed inflationary pressures. Analysts warned that investors appear to be rebuilding short positions in cotton, suggesting continued downward price pressure in the near term. The earlier May contract low of 62.86 cents per pound as a key support level that could be tested again.
CFTC data released the prior Friday showed that speculators reduced their net short positions in ICE cotton futures and options by 26,508 contracts in the week ending February 24, bringing net shorts to 48,922 contracts.
International crude oil and natural gas prices surged sharply on Monday following US and Israeli strikes on Iran, with retaliatory actions forcing the closure of several energy facilities in the region.
This morning (Indian Standard Time), ICE cotton for May 2026 was traded at 64.75 cents per pound (up 0.16 cent), cash cotton at 62.59 cents (down 1.02 cent), the March 2026 contract at 62.59 cents ((down 1.02 cent)), the July 2026 contract at 66.75 cents (up 0.14 cent), the October 2026 contract at 68.18 cents (down 0.49 cent) and the December 2026 at 69.04 cents (up 0.12 cent). A few contracts remained at their previous closing levels, with no trading recorded so far today.
Fibre2Fashion News Desk (KUL)
If the US administration imposes a 15-per cent levy, the US ETR would rise to 11.3 per cent.
President Donald Trump reinstated tariffs immediately following the US Supreme Court’s February 20 ruling that invalidated the reciprocal tariffs imposed under the International Emergency Economic Powers Act (IEEPA). The new blanket 10-per cent tariff rate is authorised under Section 122 of the Trade Act of 1974 and expires in 150 days unless extended by Congress.
The 10-per cent blanket reciprocal tariff imposed by the US on most trading partners has reduced the US effective tariff rate (ETR) to 9.4 per cent from 12.7 per cent, Fitch Ratings said.
If a 15-per cent levy is imposed, the ETR would rise to 11.3 per cent.
China has the highest ETR among trading partners, followed by Vietnam, Japan and Brazil.
China’s ETR is around 19 per cent from 29 per cent earlier.
Section 122 permits a maximum rate of 15 per cent but does not allow for tariff adjustments for individual countries.
Prior to the court decision, China was subject to two reciprocal tariffs: a fentanyl tariff of 10 per cent that applied to all imports and a 10-per cent reciprocal tariff on an import base subject to carveouts. The two tariffs have been consolidated into the 10-per cent blanket tariff, reducing China’s ETR to around 19 per cent from 29 per cent, Fitch said in a release.
China still has the highest ETR among major trading partners, followed by Vietnam, Japan and Brazil. Of the United States’ 31 largest trading partners, 26 will see their ETRs decline. Brazil benefits the most, with its ETR decreasing by 18 percentage points (pp) to 11 per cent from 29 per cent.
ETRs for most countries largely remain unchanged following the switch in tariff regimes, and no country will see an increase in its ETR if the Section 122 tariff rate remains at 10 per cent.
Fibre2Fashion News Desk (DS)
Unadjusted, it rose by 2.9 per cent for the 12 months ended January 2026.
Prices for final demand goods declined by 0.3 per cent, the largest decrease since falling 0.7 per cent in March 2025.
The seasonally-adjusted US producer price index (PPI) for final demand rose by 0.5 per cent in January.
Unadjusted, it rose by 2.9 per cent for the 12 months ended January 2026.
Prices for final demand goods declined by 0.3 per cent, the largest decrease since falling 0.7 per cent in March 2025.
Leading the January decline, the index for final demand energy dropped by 2.7 per cent.
Leading the January decline, the index for final demand energy dropped by 2.7 per cent.
The index for final demand less food, energy and trade services moved up by 0.3 per cent in January, the ninth consecutive increase. For the 12 months ended in January, such prices rose by 3.4 per cent, a BLS release said.
The index for final demand goods less food and energy advanced by 0.7 per cent in the month.
Fibre2Fashion News Desk (DS)
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