Euro Remains Bearish Following Neutral EU GDP
Thursday 14th November 2019 – 10:37 (GMT)
Figures released by Eurostat have shown that EU gross domestic product (GDP) expanded by 0.2% over Q3 2019. This was in line with market expectations whilst yearly growth numbers were slightly better than expected, posting an expansion of 1.2%.
Earlier today Germany narrowly avoided a technical recession, posting a 0.1% growth figure over Q3 and beating market expectations of a 0.1% decline. This was a move higher from the previous quarters -0.2% contraction. The rebound was supported by rises in household consumption, government spending and construction investment.
Elsewhere, the number of employed people in the Euro-Zone grew by only 0.1% over Q3 2019. The Euro remained bearish on the back of the news.