News Update: German Gross Domestic Product Grows 0.4%
Arslan Butt • 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.