The German economy showed no growth inter-quarter in the fourth quarter of 2019, arriving at 0.0% against expectations of +0.1%, the preliminary report by Destatis showed this Friday.
Meanwhile, the yearly rate grew by 0.3% in Q4 as compared to the previous reading of +1.0%, but bettered market expectations of 0.2 % expansion.
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 the 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).
The shared currency showed little reaction to the mixed German growth numbers, with EUR/USD keeping its range near 1.0840 region. The spot hit a new 34-month low at 1.0828 in early Asia.
Source : FX Street