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

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MNI: GERMANY DATA: Flash GDP (Q3 2019) Preview - 07:00 GMT 14/11/19
- 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.
MNI London Bureau | +44 203-865-3812 |
MNI London Bureau | +44 203-865-3812 |

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