News Update: German Gross Domestic Product Slips by 0.1%
Arslan Butt • 1 min read
As per the recent release by Destatis, the Geman GDP figures disappointed for another month. In the second quarter of 2019, the real (price-adjusted) gross domestic product in Germany declined by 0.1% in the first quarter of 2019. The GDP figure is released after adjusting for seasonal and calendar variations.
The Federal Statistical Office (Destatis) also states that Germany underwent an insignificant drop in economic performance. The first quarter of 2019 showed an expansion of 0.4% versus the fourth quarter of 2018.
Consumption expenditure and capital formation sustain economic activity, while foreign trade slows down growth.
So far, there has been a muted impact of weaker GDP on EUR/USD as the figure released in line with economists forecast of -0.1% drop. Stay tuned!