News Update: German Gross Domestic Product Grows 0.4%
According to the Destatis report, the German economy proceeded to grow at the beginning of the year. The Federal Statistical Office...
Arslan Butt•Thursday, May 23, 2019•1 min read
According to the Destatis report, the German economy proceeded to grow at the beginning of the year. The Federal Statistical Office (Destatis) reported in its initial announcement of 15 May 2019 that the gross domestic product (GDP) grew by 0.4% (after price, seasonal and calendar adjustment) in the first quarter of 2019 vs. the fourth quarter of 2018.
The German economic production decreased insignificantly in the third quarter of 2018 (-0.2%) and deteriorated in the fourth quarter of 2018 (0.0%). However, the growth of 0.4% is supporting the European pairs today.
Let’s wait for manufacturing and services PMI figures for some serious price action. The events are due in an hour from now.
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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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