German flash Q2 GDP rises 0.2% QoQ, beats 0.1% estimates
German preliminary Q2 Gross Domestic Product (GDP) rises at a 0.2% pace, beating the estimates of 0.1%, according to the Federal Statistics Office of Germany. However, the GDP growth remains slower than the previous reading of 0.3%. On an annualized basis, the German GDP data arrives at 0.9%, higher than the 0.6% estimate and the prior release of 0.4%.
Ahead of the German flash Harmonized Index of Consumer Prices (HICP) data for July at 12:00 GMT, inflation data from major states of the nation have come in stronger than June's readings.
Market reaction
The Euro (EUR) seems to have reacted positively to German flash Q2 and inflation data from its states. As of writing, EUR/USD rebounds from its intraday low of 1.1435 to near 1.1445.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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