Investing.com - Germany's economy grew in line with market expectations in the third quarter, official preliminary data showed on Thursday.
In a report, Destatis, Germany's statistical office, said Germany's gross domestic product increased by a seasonally adjusted 0.3% during the third quarter, broadly in line with estimates and slowing from the 0.7% growth achieved in the second quarter.
Year-on-year, German GDP grew at an annualized rate of 1.1%, after rising at a rate of 0.9% in the previous quarter and above expectations for a 0.7% gain.
Following the release of that data, the euro was lower against the U.S. dollar, with EUR/USD dipping 0.21% to hit 1.3458.
Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.9% at the open, France’s CAC 40 futures rose 0.8%, London’s FTSE 100 futures indicated a gain of 0.7%, while Germany's DAX futures pointed to a rise of 0.8% at the open.
In a report, Destatis, Germany's statistical office, said Germany's gross domestic product increased by a seasonally adjusted 0.3% during the third quarter, broadly in line with estimates and slowing from the 0.7% growth achieved in the second quarter.
Year-on-year, German GDP grew at an annualized rate of 1.1%, after rising at a rate of 0.9% in the previous quarter and above expectations for a 0.7% gain.
Following the release of that data, the euro was lower against the U.S. dollar, with EUR/USD dipping 0.21% to hit 1.3458.
Meanwhile, the outlook for European stock markets was upbeat. The EURO STOXX 50 futures pointed to a gain of 0.9% at the open, France’s CAC 40 futures rose 0.8%, London’s FTSE 100 futures indicated a gain of 0.7%, while Germany's DAX futures pointed to a rise of 0.8% at the open.