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.
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).
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