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30 Jul 2021

German Preliminary GDP expands 1.5% in Q2 vs. 2.0% expected, EUR/USD stays below 1.19

  • German GDP arrives at 1.5% QoQ in Q2 vs. 2.0% expected.
  • Annualized German GDP stands at 9.2% in Q2 vs. 9.6% expected.
  • EUR/USD unmoved on downbeat German Q2 growth numbers.

The German economy grew 1.5% inter-quarter in the second quarter of 2021 when compared to the expectations of 2.0% and -1.8% booked in Q1, the preliminary report published by Destatis showed on Friday.

Meanwhile, the annualized GDP rate rebounded by 9.2% in Q2 against the previous reading of -3.4% and missed market expectations of 9.6% expansion.

Separately, the Italian economy expanded by 2.7% QoQ in Q2 but bettered estimates of 1.3% and 0.1% previous.

 

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).

Jul 30, 2021

Germany Gross Domestic Product (YoY) came in at 9.2% below forecasts (9.6%) in 2Q

Germany Gross Domestic Product (YoY) came in at 9.2% below forecasts (9.6%) in 2Q
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Jul 30, 2021

Turkey Foreign Arrivals: 853.4% (June) vs previous 3038.83%

Turkey Foreign Arrivals: 853.4% (June) vs previous 3038.83%
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