- German GDP arrives at +0.1% QoQ in Q3 vs. -0.1% expected.
- German GDP stands at +1.0% YoY in Q3 vs. +0.9% expected.
The German economy expanded by 0.1% QoQ in the third quarter of 2019 and outpaced expectations of -0.1%, the preliminary report by Destatis showed this Thursday.
Meanwhile, the yearly rate grew by 1.0% in Q3 as compared to the previous reading of 0.0%, but bettered market expectations of 0.9% expansion.
The shared currency bounced-off monthly lows on positive surprise delivered by the German growth numbers, with EUR/USD back above the 1.10 handle.
About German Prelim GDP
The Gross Domestic Product released by the Statistisches Bundesamt Deutschland is a measure of the total value of all goods and services produced by Germany. The GDP is considered as a broad measure of the German economic activity and health. A high reading or a better than expected number has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).
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