BREAKING: German GDP in line with expectations 🎯

07:00 AM BST, Germany - GfK German Consumer Climate for September:

• actual -22.0; previous -18.6;

07:00 AM BST, Germany - GDP data:

• German GDP (Q2): actual 0.0% YoY; forecast -0.1% YoY; previous -0.2% YoY;

• German GDP (Q2): actual -0.1% QoQ; forecast -0.1% QoQ; previous 0.2% QoQ;

In the 2nd quarter of 2024, Germany's GDP declined slightly by 0.1% from the previous quarter, after adjusting for price, seasonal, and calendar effects, confirming earlier preliminary results. Year-over-year, the GDP saw a modest growth of 0.3% before calendar adjustment, and no change when calendar effects are considered.

Key economic indicators showed mixed performances: while final consumption expenditure remained stable with a slight rise of 0.1%, substantial declines were noted in capital formation, particularly in machinery and equipment which fell by 4.1%. Foreign trade did not contribute positively, with exports decreasing by 0.2% and imports remaining unchanged.