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German GDP grew by 0.2% in Q3

Tuesday, Nov 15 2016
German GDP grew by 0.2% in Q3

German economic growth is losing some momentum. In the third quarter of 2016, the gross domestic product (GDP) rose 0.2% on the second quarter of 2016 after adjustment for price, seasonal and calendar variations; this is reported by the Federal Statistical Office (Destatis). In the first half of the year, the GDP had increased somewhat more, by 0.4% in the second quarter and 0.7% in the first quarter.

Separate report on Eurozone GDP showed that seasonally adjusted GDP rose by 0.3% in the euro area (EA19) and by 0.4% in the EU28 during the third quarter of 2016, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. In the second quarter of 2016, GDP also grew by 0.3% and 0.4% respectively. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.6% in the euro area and by 1.8% in the EU28 in the third quarter of 2016, after +1.6% and +1.8% respectively in the previous quarter.

 

Euro is currently being traded around 1.08 handle. Pair is likely to find support around 1.07 area and resistance above 1.0850 level.

More in this category: « RBA delivered nothing new UK CPI increased by 0.9%, less than expected »

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