MNI: GERMANY DATA: Flash GDP (Q3 2019) Preview -.....>

MNI: GERMANY DATA: Flash GDP (Q3 2019) Preview - 07:00 GMT 14/11/19

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- Bbg Cons: -0.1% q/q (sa), 0.5% y/y (wda); Prev (Q2): -0.1% q/q, 0.4% y/y 

- Mkts expect German GDP to decline again by 0.1%, pushing the economy into a

technical recession. 

- Y/Y GDP is forecast to grow by 0.5% in Q3 after it slowed to 0.4% in Q2. 

- While net trade was the main driver of Q2's decrease, government and consumer

spending prevented further deterioration 

- Germany's manuf sector continues to suffer from external headwinds and

unresolved uncertainties, indicated by IP falling by 0.6% m/m in Jul and Sep

while it only rose by 0.3% in Aug 

- Meanwhile, sentiment indicators remained at weak levels in Q3: 

- The manuf PMI reached the lowest levels since the financial crisis in Q3,

while the European Commission's ESI for Germany plummeted to a seven-year low. 

- Against that, the ifo business climate index remained broadly unchanged in the

third quarter, although at muted levels.