Germany’s Final GDP expands 0.4% QoQ in Q3 vs. 0.3% expected
|The German economy expanded by 0.4% on the quarter in the three months to September of 2022 vs. 0.3% prior, the final revision confirmed on Friday. The reading came in above the market consensus of 0.3%.
On an annualized basis, Europe’s economic powerhouse’s GDP grew 1.3% in Q3 2022 vs. 1.2% booked in Q2 while beating 1.2% estimates.
Meanwhile, Germany’s GDP rate w.d.a arrived at 1.2% YoY in Q3 vs. 1.1% expected and 1.1% previous.
FX implications
EUR/USD was last seen trading at 1.0400, unchanged on the day. The Euro shrugged off the upbeat German GDP revision.
About German 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).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.