German Prelim GDP expands +0.1% in Q3 vs. -0.1% expected – EUR/USD regains 1.1000

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.

Dhwani Mehta FXStreet

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).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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