German statistics

24.11.2016

Germany's GDP in the third quarter increased by 0.2% compared with the previous three months, according to the final data of the Federal Statistical Agency of Germany (Destatis).

The growth rate of the economy has slowed from the observed 0.4% in April-June and 0.7% in January-March.

The final evaluation coincided with the preliminary data and market expectations.

On an annual basis, German GDP increased by 1.5% after jumping 3.1% in the second quarter. Adjusted for number of working days, GDP grew by 1.7% compared to July-September 2015.

This index also coincided with the preliminary data and forecasts.

The exports from Germany fell in the third quarter by 0.4%, while imports increased by 0.2%.

Growth in consumer spending was 0.4%.

Investments in fixed capital have not changed, while investment in construction rose 0.3% in the last quarter. Investments in machinery and equipment fell 0.6%.

In November, the index of business confidence in Germany has retained power, but business expectations deteriorated marginally, showed data released on Thursday.

The IFO Research Institute, based in Munich, said that its business climate index in Germany fell this month to 110.4 from 110.5 in October.

The economists had forecast 110.5.

The assessment of the current situation in Germany rose to 115.6 from 115.1of the previous month, against the forecast of 115.0.

The index of business expectations in Germany, which shows the attitude toward business prospects over the next six months, dropped this month to 105.5 from 105.9 in October, compared to a forecast of 106.0.

The monthly index is based on a survey of about 7,000 German companies engaged in the manufacturing, construction, wholesale and retail trade.

EUR/USD is traded at 1.0557 after 1.0556 in anticipation of the release of data, while EUR/GBP pair is at 0.8493 after 0.8494 earlier.

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