Germany was expected to report a quarterly GDP growth rate of 0.3% in Q3, down from 0.4% in Q2, and there were no surprises. Year over year, the economy advanced by 1.8% (non seasonally adjusted).
EUR/USD was stable at 1.0785 before the release and remains stable afterwards.
Earlier, France reported a quarterly growth rate of 0.3%, as expected. Year over year it advanced 1.2%, slightly above predictions..
Later today we have GDP publications from Italy at 9:00 and for the whole euro-zone at 10:00 GMT. Afterwards, the focus will shift to the United States: all important retail sales and consumer confidence publications are due before the end of the week.
The Volkswagen scandal broke out in September, late in Q3, and may have an effect on the economy only in Q4.
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