The Germany’s annualized preliminary Gross Domestic Product is down 4.3% in the third quarter of 2020, moderating the 5.3% decline expected and the 11.3% decline in the second quarter. This is the third consecutive quarter of falls in the indicator.
Quarterly GDP has grown by 8.2%, surpassing the estimated 7.3% and the 9.8% decline in the second quarter (revised from -9.7%). This is the first positive result in the indicator by quarter since the third quarter of 2019.
EUR / USD reaction
The EUR/USD has reacted to the data with a slight rise of almost 10 pips towards the vicinity of 1.1680, although the pair remains under pressure on Friday, trading at the time of writing above 1.1675, neutral on the day.
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Credits: Forex Street
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