Eurozone: A dismal third quarter confirmed - ING


Bert Colijn, Senior Economist at ING, points out that the second estimate of Eurozone’s GDP confirmed the growth of just 0.2% QoQ and 1.7% YoY.

Key Quotes

“The main culprit was Germany, the Eurozone’s stronghold throughout the 2010s, which saw its economy shrink by -0.2% in Q3. Disruptions in the car industry were an important driver of the first negative quarter since 2015 and the slow quarter in the Eurozone, but it seems that the worries about growth are broader than that.”

“Exports are weaker thanks to global problems related to trade wars and emerging markets, and consumption was dampened by the higher oil prices seen in Q3.”

“Industrial production in the Eurozone posted a very small decline in Q3, adding to the slow growth performance.”

“While a small recovery of growth in Q4 is in the making, it seems evident that the growth cycle for the Eurozone already peaked last year.”

Share: Feed news

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD slides to 1.0650 amid strong USD, dovish ECB commentary

EUR/USD slides to 1.0650 amid strong USD, dovish ECB commentary

EUR/USD is falling further to test 1.0650 after dovish commentary from the ECB policymaker Stournaras weighed on the Euro. Divergent ECB-Fed policy outlooks keep the US Dollar strongly bid ahead of the US sentiment data and Fedspeak. 

EUR/USD News

GBP/USD extends decline below 1.2500 on sustained USD strength

GBP/USD extends decline below 1.2500 on sustained USD strength

GBP/USD extends losses below 1.2500, struggling even after the January month UK GDP was revised higher to 0.3% while the UK industrial sector showed robust growth. Resurgent US Dollar demand and geopolitical tensions keep the pair undermined. 

GBP/USD News

Gold price taps on $2,400 for the first time on record

Gold price taps on $2,400 for the first time on record

Gold price tests $2,400 for the first time on record, scaling new lifetime highs amid persistent geopolitical tensions. The upsurge seems unaffected by reduced Fed rate cut bets and bullish USD. Extremely overbought conditions might prompt some profit-taking around the metal.

 

Gold News

Robert Kiyosaki steers clear from ETFs, opts for holding Bitcoin directly instead

Robert Kiyosaki steers clear from ETFs, opts for holding Bitcoin directly instead

Rich Dad Poor Dad author Robert Kiyosaki says he will not buy Bitcoin ETFs. Kiyosaki stated his dislike for Wall Street’s financial products and preferred packaging his own. 

Read more

US banks in focus, as earnings season gets underway

US banks in focus, as earnings season gets underway

Today sees the big banks kick off earnings season in the US, with JP Morgan Chase, Wells Fargo, Blackrock, Citigroup, and State Street all reporting before the bell.

Read more

Forex MAJORS

Cryptocurrencies

Signatures