German GDP report for Q2 2023 was released today at 9:00 am BST and was expected to show a 0.1% QoQ expansion, following a 0.3% QoQ contraction in Q1 2023. However, actual data turned out to be a disappointment with the German economy stagnating and achieving no growth in Q2 2023 (0.0% QoQ). Growth adjusted for work days was -0.2% QoQ and was slightly higher than -0.3% QoQ expected.
Market reaction to the release was small - DE30 ticked around 10 points lower in a knee-jerk move while EURUSD moved 0.05% higher. Traders will also be offered one more piece of key German data today - CPI reading for July at 1:00 pm BST.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
DE30 saw minimal reaction to German GDP reading. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
