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French and German GDP rose by 0.3%

Friday, Nov 13 2015
In Q3 2015, French GDP in volume terms increased by 0.3%, after a stability in Q2 2015 (0.0%). This was in line with market forecasts. Household consumption expenditure recovered. Overall, total domestic demand (excluding inventory changes) accelerated: it contributed for +0.3 points to GDP growth after +0.1 points in Q2. Exports fell back while imports sped up. In fine, foreign trade balance contributed negatively to GDP change. Conversely, changes in inventories contributed positively.
 
German economy has shown continued moderate growth: In the third quarter of 2015, the gross domestic product (GDP) rose 0.3% on the second quarter of the year after adjustment for price, seasonal and calendar variations. IIn a quarter-on-quarter comparison (adjusted for price, seasonal and calendar variations), positive contributions were made mainly by domestic final consumption expenditure. The final consumption expenditure of both households and government was up again. By contrast, gross fixed capital formation decreased slightly. According to provisional calculations, the development of foreign trade also had a downward effect on growth because the increase in imports was markedly larger than that of exports.
 
Euro is currently being traded around 1.0750 area. Pair is likely to find support around 1.07 handle and resistance above 1.08 level. Later today, in the US session, Retail Sales, PPI and Consumer Sentiment figures are scheduled for a release.
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