Good news from the euro-zone’s battered second largest economy: it grew by 0.3% quarter over quarter, better than predicted. Year over year, we have a 0.4% growth rate. However, the second quarter was revised down to -0.1%, down from flat. So, all in all, the total GDP isn’t much higher than predicted.
EUR/USD ticks higher back above 1.2430, but it isn’t going too far.
Update:Â German GDP grew +0.1% as expected, +1.2% y/y
Among the figures, we have government spending grow 0.8%, exports grow 0.6%, imports growing 1.1% and household consumption growing by 0.2%.
The focus of markets is on Germany. Did Europe’s largest economy enter an official recession? It contracted in Q2.
France was expected to report a GDP growth rate of 0.1% in Q3, after a flat read in Q2. Year over year, Q3 GDP was predicted to rise 0.4% after 0.1% beforehand. These are the initial estimations for the third quarter.
Before the publication, EUR/USD was trading lower, at around 1.2430, on speculation about QE.
We will soon hear from Germany, Italy and also hear the full euro-zone GDP estimation.
More: EURUSD Price Squeeze – Looking to Catch Bearish Breakouts
