German Final GDP Reading as Expected, Economy Contracted in Q2 2019

The final reading for Germany's Q2 GDP reveals that the German economy contracted 0.1% in the second quarter of this year, coming in line..

EUR/USD

The Federal Statistics Office confirmed that a decline in exports were the key driver behind the German economy’s contraction in Q2 2019. The final reading for Germany’s Q2 GDP reveals that the German economy contracted 0.1% in the second quarter of this year, coming in line with expectations.’

Between April and June, exports from Germany suffered a steeper decline than imports, which caused net trade to fall lower. According to calculations, this has caused a 0.5% deduction from overall expansion of the German economy.

So far, the Euro has not shown much of a reaction to this news. EUR/USD continues to trade at around 1.110 at the time of writing.

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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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