German GDP: 0.3% as expected


Germany reported a quarterly growth rate of 0.3%, as expected. The locomotive of the euro-zone enjoyed solid growth of 0.7% in Q2. Year on year, a growth rate of 0.7% was expected. Year over year, Germany grew by 1.1%.

EUR/USD was trading quite steadily just under 1.3470 before the publication, very marginally affected by the disappointing French disappointment.

Earlier, France disappointed and reported a contraction of 0.1%, below expectations of growth at the same scale. Later on, we will have the release of Italy’s GDP, which is expected to show contraction, and the publication for the whole euro-zone. Spain already reported a marginal growth rate of 0.1%.

As Germany and France are the continent’s largest economies, expectations for the euro-zone GDP are adjusted after these publications. The euro-zone exited its recession in Q2, but most commentators didn’t see the continent as coming out of the woods.

For more, see the EUR/USD forecast.

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About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.


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