Economy

German growth slower, but still strong ahead of election

German growth slower, but still strong ahead of election

Gross Domestic Product (GDP) in Germany was up 0.6 percent between April and June from the previous quarter, just below economists' expectations of 0.7 percent. Trade weighed on overall growth as imports rose faster than exports. This was slightly weaker than the consensus forecast of 0.7 percent in a poll conducted among analysts by the news agency Reuters.

Germany maintained its solid economic performance, despite an unexpected yet mild slowdown in the second quarter.

Looking ahead the EUR USD exchange rate rally tomorrow morning if the Eurozone's latest GDP estimate shows that economic growth in the bloc rose from 0.5% to 0.6% in the second quarter.

German economy, Europe's largest, posts 0.6 pct 2Q growth
Germany maintained its solid economic performance, despite an unexpected yet mild slowdown in the second quarter. Germany's economy expanded at a slightly slower pace in the second quarter, Destatis reported Tuesday.

Looking ahead, the euro's appreciation in recent months poses a risk to future exports, economists say, as it erodes the global competitiveness of goods produced in the region.

"The German economy continues to grow", Destatis said in a statement, noting that the expansion was driven by household consumption, government spending, investments and the construction sector.

Germany has seen "several years of pretty strong economic performance", Jack Allen, a European economist at Capital Economics in London, said before the report."The unemployment rate is very low, the economy has done very well particularly by the euro-zone standards, so it's quite possible that it will boost support for the incumbent party". The optimism in boardrooms was reflected in growing investment in machinery, buildings and other assets.

'Anti-Semitic' signs at Swiss hotel warn Jewish guests to shower before swimming
The family was greeted by a sign instructing all Jewish guests to shower before and after using the swimming pool. There is a really nice group of Jews here from all over the world - there are barely any Israelis.

Unadjusted data showed the economy grew by 0.8% on the year in the second quarter.

The "Greenback" was also strengthened by suggestions that the upbeat sales data, alongside a broader uptick in the USA economy at the start of the third quarter may prompt the Federal Reserve to move forwards with plans to raise interest rates despite lacklustre inflation figures.

Price-adjusted GDP growth came in at 0.8 percent versus 3.2 percent a quarter ago.

Stock Seesawing Amidst Rampant Activity: Canadian Solar Inc. (NASDAQ:CSIQ)
Calamos Advisors LLC acquired a new stake in shares of Canadian Solar during the second quarter valued at $4,474,000. ValuEngine lowered Canadian Solar from a "buy" rating to a "hold" rating in a research report on Friday, June 2nd.


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