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AUSSIE 10-YEAR TECHS

(Z1) Off Lows, But Remains Weak

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Bullish Price Sequence

German GDP Up Slightly in Q4

GERMAN DATA
MNI (London)

GERMANY FLASH Q4 GDP +0.1% Q/Q SA, -3.9% Y/Y WDA

GERMANY Q3 GDP +8.5% Q/Q, -4.0% Y/Y

  • The German economy grew by 0.1% in Q4, coming in slightly stronger than markets expected (0.0%)
  • The annual rate improved further to -3.9% in Q4 after recording -4.0% in Q3.
  • The recovery which started in the third quarter slowed significantly in the last quarter due to the renewed lockdown.
  • Destatis noted that the tightened restrictions weighed particularly on household consumption, while exports and gross fixed capital formation in construction supported the economy.
  • Over the year of 2020, GDP was 5.3% (calendar adjusted) lower than in 2019.
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com