Newest knowledge launched by Destatis – 24 February 2021
- GDP (non-seasonally adjusted) -2.7% vs -2.9% y/y prelim
- GDP (working day adjusted) -3.7% vs -3.9% y/y prelim
- Personal consumption -3.3% vs -1.5% q/q anticipated
- Prior (Q3) +10.8%
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That is a bump to the preliminary estimate because the German financial system barely squeezed out development on the finish of final 12 months, however at the least that beats out fears of a potential contraction.
This does provide a glimpse that Q1 financial exercise might not be as unhealthy as feared as nicely however until the vaccine rollout progresses extra rapidly and effectively within the coming months, the euro foreign money should still wrestle for significant traction shifting ahead.