- German GDP arrives at -1.7% QoQ in Q1 vs. -1.5% expected.
- Annualized German GDP stands at -3.0% in Q1 vs. -3.2% expected.
- EUR/USD unmoved on mixed German Q1 growth numbers.
The German economy shrank 1.7% inter-quarter in the first quarter of 2021 when compared to the expectations of -1.5% and 0.3% seen in Q4, the preliminary report published by Destatis showed on Friday.
more to come …
About German Prelim 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 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).