European GDP Mixed — Germany Beats, Italy Stalls
German Q3 GDP beat expectations on both QoQ (+0.2% vs +0.1% est.) and YoY (+1.2% vs +1.1% est.) measures, while Italy came in flat versus an expected +0.1% gain.
What we know
Germany posted a Q3 GDP beat of +1.2% YoY and +0.2% QoQ, both slightly above consensus. Italy's Q3 GDP was flat versus an expected modest expansion. ECB board member Rehn cautioned that the outlook for growth and inflation remains 'very uncertain.' German Chancellor Merz, on an Asia trip, called for vigilance against European protectionism and said he is working to bring the Iran war to an end as soon as possible, noting its 'massive impact on Europe.'
How the story developed
German Q3 GDP beat expectations on both QoQ (+0.2% vs +0.1% est.) and YoY (+1.2% vs +1.1% est.) measures, while Italy came in flat versus an expected +0.1% gain.
France's Q3 GDP surprised sharply to the downside at -0.1% QoQ (vs. +0.1% expected) and -0.1% YoY (vs. +0.3% expected), with consumer spending also badly missing, adding to signs of stalling growth across the eurozone.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.