Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
GERMAN DATA
MNI (London)
GERMANY Q2 2022 FLASH GDP +0.0% Q/Q (FCST +0.1%); Q1 2022 +0.8%r Q/Q
GERMANY Q2 2022 FLASH GDP +1.4% Y/Y (FCST +1.7%); Q1 2022 +3.6%r Y/Y
- The German economy stalled in the flash Q2 2022 GDP print, following a 0.6pp upwards revision of Q1 GDP to +0.8% q/q.
- Compared to 2021, Q2 saw +1.4% y/y growth, weaker than +3.6% y/y in Q1 and 0.3pp below forecast.
- Private and government consumption managed to avoid German GDP slipping into contractive territory, whilst the export industry saw a substantial slowdown.
- The continued effects of the pandemic, supply chain disruptions, global inflationary pressures and the war in Ukraine have generated substantial downwards growth pressure on the German economy and outlooks remain bleak.
- The stark upwards revision of Q1 numbers was largely due to significant recalculations of GDP back to 2018.
- This follows the hot inflation surprise of +8.5% y/y in yesterday's July flash and this morning's labour market data holding strong despite a large influx of Ukrainian nationals.
- As inflationary pressures continue to be the key driver of record-low consumer confidence ECB will continue to stick to frontloading rhetoric despite the largest eurozone economy on the edge of contraction.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok